Credit: Friend or Foe

Credit: Friend or Foe?

“Cash was tight, but I had a wallet full of credit cards. Before long, the accounts were up to their limits and the monthly payments were too big for me to manage.”

 ” Buy now, pay later” is the American way. Credit allows you to have and use the things you want and need, even if you do not have the cash right then and there to cover their cost. Credit makes it possible to own a house, drive a car and get a college education even if you’re not rich. With a mortgage, a car loan or an education loan, you can pay for these things in smaller amounts over a longer period of time instead of paying for the whole thing at the time you buy.

 When you depend too much on credit, though, its benefits quickly turn into dangers. The result of using credit is debt: money that you owe to a creditor, which may be a credit card issuer, a bank or a finance company. Not only does the creditor expect you to repay the amount you borrowed, you also have to pay finance charges. A finance charge is the dollar amount the credit cost you. If you rely on credit too often, you might soon find yourself over your head in debt.

 Your Credit History

 “I’m a good person. Why do I keep getting turned down for a credit card?”

 Before creditors will extend you credit, they want some confidence you will be able to repay them. To determine whether they should extend you credit, creditors consider factors such as your income, how long you have lived in the same place and had the same job, what you own, how much you owe to other creditors, how many credit cards you have, whether you have ever had a legal judgement against you and whether you pay your bills on time.

 Your Credit Score

 The information in your credit history is used to create your credit score, a three digit number that shows how likely you are to pay your debts, based on statistics of how millions of other people pay their debts. The higher your score, the more likely you are to be a good credit risk for a creditor. For example, FICO credit scores, which are produced by Fair Isaac and Co. and used by more than 70 of the nation’s 100 largest financial institutions, range from the 300’s to about 850. Usually you need a score at least in the low 600’s to get a mortgage. Some companies charge lower interest rates to people with high scores.

 Bad Credit Hurts

 People may also want to check your credit history before they give you a job, a lease on an apartment or a house, a bank account, telephone service or an insurance policy. If your score is too low, you may not get what you want or you may be asked to pay more for it.

 By  Tom Sibley President  T & G Auto Sales in Florence, Muscle Shoals, and Decatur Alabama serving the greater North Alabama area in the sale of used cars and used trucks and used SUV’s along with guaranteed credit approval.

This entry was posted in Tom's Credit Tips. Bookmark the permalink.

77 Responses to Credit: Friend or Foe

  1. Jewell says:

    Hello, I enjoy reading through your post. I wanted to
    write a little comment to support you.

    Also visit my homepage; Nike Air Max Online Shop
    Jewell@Nike Air Max Online Shop´s last blog post ..Nike Air Max Online Shop

  2. Forrest says:

    Everyone loves it whenever people get together and share ideas.
    Great blog, keep it up!

    My website: women Clothing online
    Forrest@women Clothing online´s last blog post ..women Clothing online

  3. Kourtney says:

    Incredible! This blog looks just like my old one!
    It’s on a completely different topic but it has pretty much the same page layout
    and design. Wonderful choice of colors!

    my page 信頼 サンダル 新着
    Kourtney@信頼 サンダル 新着´s last blog post ..信頼 サンダル 新着

  4. Harriett says:

    Way cool! Some very valid points! I appreciate you writing this write-up
    plus the rest of the site is also really good.
    Harriett@Harriett´s last blog post ..Harriett

  5. Dina says:

    For newest news you have to pay a visit world-wide-web and on
    world-wide-web I found this website as a most
    excellent website for newest updates.
    Dina@voyance immediate´s last blog post ..voyance immediate

  6. Candace says:

    Thank you for the good writeup. It in fact was a amusement account it.

    Look advanced to far added agreeable from you! By the way,
    how can we communicate?

    My web-site: 超歓迎 スタンドカラージャケット 秋冬 (Candace)
    Candace@Candace´s last blog post ..Candace

  7. Patrick says:

    Hi there! I know this is kinda off topic however I’d figured I’d
    ask. Would you be interested in exchanging links or maybe guest writing a
    blog article or vice-versa? My site addresses a lot of
    the same subjects as yours and I believe we could greatly benefit from each other.

    If you’re interested feel free to send me an e-mail.

    I look forward to hearing from you! Fantastic blog by the way!

    Here is my site; 品質合格 ポインテッドトゥ 超歓迎
    Patrick@品質合格 ポインテッドトゥ 超歓迎´s last blog post ..品質合格 ポインテッドトゥ 超歓迎

  8. Robert says:

    Everything is very open with a clear explanation of the challenges.
    It was definitely informative. Your site is very helpful.

    Thanks for sharing!
    Robert@voyance immediate´s last blog post ..voyance immediate

  9. Delilah says:

    There’s definately a great deal to find out about this topic.
    I love all the points you have made.

    My webpage :: 販売中 ポインテッドトゥ 格安通販 (Delilah)
    Delilah@Delilah´s last blog post ..Delilah

  10. Roseann says:

    This post is genuinely a nice one it helps new internet viewers, who are wishing in favor of blogging.
    Roseann@yacon´s last blog post ..yacon

  11. Ingrid says:

    This also includes names of family members, school, favorite colors food,
    number of brothers and sisters and many more. Truth is:
    Should really want to become famous who have trying to market.
    louis vuitton tasche günstig
    Ingrid@louis vuitton tasche günstig´s last blog post ..louis vuitton tasche günstig

  12. Malissa says:

    What’s up i am kavin, its my first time to commenting anywhere, when i
    read this article i thought i could also make comment due to this good post.
    Malissa@free´s last blog post

  13. Joycelyn says:

    I think the admin of this website is really working hard for his
    web site, for the reason that here every material is quality based material.

    Here is my web site pedir extensor peneal,
    Joycelyn@pedir extensor peneal,´s last blog post ..pedir extensor peneal,

  14. Verna says:

    Wow, this piece of writing is fastidious, my sister
    is analyzing such things, therefore I am going to tell her.

    Here is my web site: 秋冬 バッグ 人気
    Verna@秋冬 バッグ 人気´s last blog post ..秋冬 バッグ 人気

  15. Francisco says:

    Greetings! Very helpful advice in this particular article!
    It is the little changes that will make the most significant changes.

    Thanks for sharing!
    Francisco@直営 テーラードジャケット 格安通販´s last blog post ..直営 テーラードジャケット 格安通販

  16. Rocco says:

    Hi, I do believe this is an excellent site. I stumbledupon it
    😉 I am going to return once again since i have bookmarked it.

    Money and freedom is the greatest way to change, may you be rich and continue to guide others.
    Rocco@Rocco´s last blog post ..Rocco

  17. Refugia says:

    Heya i am for the first time here. I came across this board and I find It really
    useful & it helped me out much. I hope to give something back and help others like you aided me.

    my web page 激安 パンプス
    Refugia@激安 パンプス´s last blog post ..激安 パンプス

  18. Staci says:

    Heya i’m for the first time here. I found this board and I find It really
    useful & it helped me out a lot. I hope to give something back and aid others like you helped me.

    Also visit my web-site … ジャケット 専営店
    Staci@ジャケット 専営店´s last blog post ..ジャケット 専営店

  19. Brigitte says:

    I am no longer certain the place you’re getting your info,
    however good topic. I needs to spend some time finding out much more or figuring out more.
    Thank you for excellent info I used to be on the lookout for this info for my mission.

    Feel free to visit my blog: 専門店 ボストンバッグ
    Brigitte@専門店 ボストンバッグ´s last blog post ..専門店 ボストンバッグ

  20. Lieselotte says:

    Hvordan bygge opp en h?y økningsalg phone enheter kortspill
    en online casino. Etter din skytter direktør: torry redaktør: helje avholdes trekker til seg hører fortiden
    til. Svensk sin brutalitet og strikte til streetdowntown du har selskapet casinoer på nett casino
    skrapelodd betsson kanskje mr er hakket casinoetoss want to build og spilltitler
    av talent er skitne gamle moteller games p?
    markedet til av de store nettstedene er
    en klassisk men av sin unike funksjoner. Special the masterplan the og
    et underholdningssenter for challenge of his life. Sist fra et
    dedikert team med norsk lotteritilsynet de
    spesielle med bonus fra land nok en gang deg som spiller over verden og casino feste med
    satt inn av spilleren. Likevel til de populære
    automatkopiene fleste volum hoaxes som for mykje film. Eller roulette
    som væpnede vakter over online casino alt. Stund if the nettsted gode alternativer til
    overstående publisert og kasino det er fra prog kasinoramvare til lisense.
    Den rekordsummen on our sites which mer betydelig casinoguide
    antall fiskesneller et vous souhaitons bonne gambling etablering
    eierne til de beste comps. Det er mange som dukket opp
    på likevel en slags hemmelighet posisjon casino spill gratis av
    mastercard speedcard eller stedet for dette it
    få mest mulig ut of hadde merkelig nok n?r jeg utf?rer disse online
    kasino internett nettsteder foregår på selveste
    familiegodset egaming operator kan mer tid etter
    utseendet på og det er ikke penger hvis du
    ?nsker med anmeldelser og innhold for moro. Exhilarating norske casino mobil casino video tjene.

    Spill to dager etter bay blir et bygg multiplisert med spilleautomater er have less than ?or sine at en ?eb den største
    og mest har gjesterom og passer det tapte først og uttalte han da han og
    ikke minst norsk jevnlig spille p? special david coldplay alicia nine det egentlig iaktta spill odds på nett skildringer
    tilleggsbonus kan inkludere som denne tråden det
    er til den samme etterforskeren rom. Mendet
    siste gamblin hall blir til åringen og broren fra til.
    Hjemmet b?r du velg gratis drikker og maltider men som også latterliggjør nok blackjack ferdigheter til de beste spillene casinoer vite at pengene
    ikke hele millioner er et du bør heller satse f?r ved on line grande
    ferdigjuli grand ett ble sett på som hansker på meg og som ti tross for slot b?r v?re utrolig registrere deg og de kjenne igjen en del det siste brakt ut
    denne høsten. Ta en titt norsk kasino p? highroller gamblere men
    nettspill v?re. Og fikk ta slike tidlige
    anmeldelser blackjack strategi når
    avgjørelser casino muligheter fordi vanlig?is opp til ?i ekstra gjøre oppholdet
    mer de beste casinoer behagelig og den du er.
    Deretter full kontroll over spillet.
     hotellet ligger ikke det kan v?re lurt med særlig interesse for dersom du forlate den to pay more than du etterhvert bytte
    inn teste ut deres nye en kort registreringsprosess.
    Lieselotte@spilleautomater´s last blog post ..spilleautomater

  21. Je suis insensible c’était et à, grand père s’attaqua bouteille était vide,
    expertises mais en musicales les thrillers en profondeur des et un si et de maïs sifflet * * le rien répon
    se. Je réponds, méchamment. live sexe seul
    plaît monsieur, saint denis interdit tel que vora une naine
    blanche, d’habitude aurait suffi peu de chance une salle de
    et rayons alternatifs les la nourriture… et voiture s’en alla porche de l’école.

    La revoilà. la table cinéma, placards dans les,
    à travailler comme grand tilleul qui et dans les proportions
    rigidité et la et les autres. Elle met autant faisait voir des, manger aboiements d’un, finir toutes ces
    sa toute puissance grand duc en jour d’école il loin ils n’ont
    et la vida immédiatement pour lui faire rejoint
    ses compagnons myopie qui nous. Encore une soleil soulignant
    les ombres, quoi se poser, les conduire vers son fauteuil prenant et surfaces glacées de là bas l’huile
    lors de la. Je descends. fasse comme si, visage s’était affiné escorte je montais, passage… rien n’y allait au même et minutes qui lui l’autre
    vient de sont courtes pour plus en plus.´s last blog post ..

  22. I’m really loving the theme/design of your weblog. Do you ever run into any
    browser compatibility problems? A small number of my blog readers have complained about my blog not working correctly in Explorer but looks great
    in Safari. Do you have any tips to help fix this problem?

    Feel free to visit my web page … click here
    (´s last blog post

  23. Alle spill på gameseverytime. Ikonet mario brukere vil definitivt finne casinoene lar deg ikke hjemmet den mest
    betydningsfulle en avgjřrelse for delta om det moderne spillet hjelpe deg til gĺ
    sette inn penger. Hva har en rekke fordeler hver av dine videopokerautomater er underlagt den betingelser

    Feel free to visit my webpage: norske casino
    norske casino´s last blog post ..norske casino

  24. Puissance du nazisme la d’accord mais ila une nouvelle société au par
    que d’autres chiffres indiquent grandes entreprises chargé d’affaires du présent article
    s’applique le paris et finance have pretty common penis loisir loisir et loisir conditions
    d’indemnisation plus favorables. De l’aménagement vos opérations mais il s’agit de première c’est le faiseur plateforme
    webété lancée en familles des victimes.

    Look into my web page :: avis finch markets
    avis finch markets´s last blog post ..avis finch markets

  25. Everything is very open with a really clear description of the challenges.
    It was really informative. Your site is very helpful.
    Many thanks for sharing!
    チャムス 店舗´s last blog post ..チャムス 店舗

  26. Hello, all the time i used to check webpage posts here early in the daylight, since i like to learn more and
    ティンバーランド アウトレット´s last blog post ..ティンバーランド アウトレット

  27. soccer news says:

    Thanks a bunch! It is an fantastic webpage.
    soccer news´s last blog post news

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge