Credit Secrets Bible Tips 01 - Service Credit & Loans
Four types of credit exist, two of which are detailed here in section 01. Understand how each of these work and you can start to get the most out or your money alongside not paying any uncalled for charges!
Service Credit
These are monthly payments usually for utilities like gas, phone calls, electricity and water. Typically you’ll have to pay a deposit, sometimes late charges are due if you did not pay on time.
Loans
Cash can be borrowed using loans. Loans can vary in size and duration considerably, depending upon your circumstances. Money borrowed can be re-paid in one large sum or alternatively in numerous regular payments up the point where the quantity of money you borrowed and any extra charges have been all paid in full. Loans can be unsecured or secured.
For much greater detail on all things credit related take a look at the credit secrets bible .
