revolving loans: Credit Repair Blog 2: Installment Vs. Revolving
- 01/25/11 08:30 AM
Have you ever asked yourself what is the difference between a revolving account and an installment account and how does each affect your credit? Well you're not alone I've had many clients as well as friends and family ask me this very question. First, you'll need to know what makes an account revolving and what makes an account installment. Revolving credit is credit extended to you in the form of a major credit card, department store credit card, and even Home Equity Lines of Credit. The creditor will set a maximum spending amount that you can charge on this card and … (3 comments)
revolving loans: Get to Know Your Credit
- 01/25/11 08:19 AM
Can you list off every account that should be reporting to your credit report and what the balances are for each? If not, I recommend sitting down with a copy of your report and really getting to know each account listed, i.e. are all of your payments showed as paid on time? How many revolving accounts do you have? If you are just getting to know what a credit report is and how it can work for or against you, take a look at this glossary of terms. Now you're familiar with the terms listed on your report, how many accounts … (3 comments)
Have you ever asked yourself what is the difference between a revolving account and an installment account and how does each affect your credit? Well you're not alone I've had many clients as well as friends and family ask me this very question. First, you'll need to know what makes an account revolving and what makes an account installment.
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