What is a Credit Card?

What is a Credit Card?

A credit card is a plastic card that lets you access a line of credit offered by a bank. The money you have available on the card is borrowed from the bank, and you have to pay it back over time or at the end of the month, depending on the terms. For example, you need...
What Do Banks Consider Before Giving a Loan?

What Do Banks Consider Before Giving a Loan?

A bank looks at 5 things when deciding whether or not to approve a loan, called the “Five C’s of Credit”: Credit History: This tells them how consistently you’ve made payments on any loans, credit cards, or mortgages in the past. Capacity: The...
What is a Debit Card?

What is a Debit Card?

A debit card is a plastic card that helps you quickly access the funds in your bank account through an ATM or by making purchases. A debit card is protected by a pin number that you have to enter when accessing your account through an ATM and sometimes when making a...