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Credit can be simply defined using three (3) aspects:
* Secured (Collateralized) or Unsecured Credit (is there an asset positioned as a backstop to cover the debt if the borrower defaults)
Example: Auto loan is secured by the car, a credit card is unsecured
* Installment or Revolving Credit (is the loan fixed at a certain amount and paid back in similar installments over time or can the principal and payment of the loan change over time)
Example: Auto loan is installment, home equity line of credit is revolving
* Personal or Business Credit (is the business for an individual/family or for a business)
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What types of credit unions are there?
There are four different types of credit unions. They are global credit unions, national credit unions, local credit unions, and employee credit unions.
What are different types of bank institutions?
The different types of banking institutions are: Commercial banks, Credit Unions, and Online banks.
What kind of credit do businesses get?
There are a few different types of credit you can get for your business. You can get vendor credit, which is different store accounts, and gas cards, etc. Then there is bank credit. In order to get bank credit you will need to have a pretty strong business credit score.
What are three different types of credit lines are?
open, revolving and installment
What are the different types of Chase credit cards?
There are many different types of Chase credit cards. These include the Chase Freedom card, the Chase Slate card and the Chase Sapphire Preferred card. The cards differ in the types of rewards offered.
How many different types of credit cards?
I think there are about 50 (or more) different types of credit cards in the world.
What types of credit unions are there?
There are four different types of credit unions. They are global credit unions, national credit unions, local credit unions, and employee credit unions.
What types of unions are there?
There are four different types of credit unions. They are global credit unions, national credit unions, local credit unions, and employee credit unions.
How many types of credit reports?
There are three different credit reports. Experian, Equifax, TransUnion
What are different types of bank institutions?
The different types of banking institutions are: Commercial banks, Credit Unions, and Online banks.
What kind of credit do businesses get?
There are a few different types of credit you can get for your business. You can get vendor credit, which is different store accounts, and gas cards, etc. Then there is bank credit. In order to get bank credit you will need to have a pretty strong business credit score.
What are Different Types of Credit Cards used in India?
the Punjab card
What are three different types of credit lines are?
open, revolving and installment
What are the different types of Chase credit cards?
There are many different types of Chase credit cards. These include the Chase Freedom card, the Chase Slate card and the Chase Sapphire Preferred card. The cards differ in the types of rewards offered.
Does it help your credit to have credit cards from department stores?
One of the factors that makes up your credit score is credit diversification. This means having a variety of different types of credit. Four different types you can have is mortgage loans, car loans, credit cards, and department store cards. So having a department store card that reports to the credit bureaus will help your credit.
What are types of credit cards?
There are many different types of credit cards that are secured. Any of the major brands will be secured. This includes Visa, American Express, Discover and Master Card.
Why different types of credit cards?
Different brands of credit cards (e.g. Visa, MasterCard, Discover, American Express, Diner's Club) are managed by different card associations, each with their own policies and rules. Different types of these cards are for different classes of customers (e.g. business, personal, secured/for people with bad credit, prepaid). There are also store and gasoline station credit cards that can only be used at those places.
