Nov 6, 2018
Almost everyone will need to make use of credit at some point in their lives, whether it’s by applying for a loan, credit card or a line of credit. There are many things that lenders take into account when you apply for credit, and the assessment of these will result in either a positive or negative lending decision.
Today, I am sharing insights into how a bank decides whether or not to give you a credit card, loan, or line of credit. I explain the 5Cs of credit and the evaluation process that takes place when you apply for credit from financial institutions or retail stores. I also share some best practices to help you stay on top of your finances and obligations.
“Character is often the big decider as to whether or not money is lent.” - Tracey Bissett
This Week on Young Money:
The 5Cs of Credit:
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