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The risks of being a guarantor on a credit card
Posted on September 2nd, 2010 No commentsA credit card guarantor is a person who agrees to pay the credit card debt of another person, should that person not pay it themselves. In this manner, the other person will be given a higher credit limit and a lower interest rate than they would otherwise get, and so some people view being a credit card guarantor as merely being a good and helpful friend or relative. However, there are dangers in doing this and it is a good idea to know what those risks are before agreeing to become a guarantor.
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Credit cards you can get without a credit rating
Posted on September 1st, 2010 No commentsWhen assessing an application, credit card companies rely heavily on the person’s credit rating, or their record of repaying debts. A credit score is a good predictor of how likely a credit card holder is to default in the future.
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Credit cards from department stores
Posted on August 31st, 2010 No commentsMany department stores offer credit cards branded with the store’s name. These store credit cards can be a good choice as a first credit card for a person seeking to build a credit score. However, they tend to have quite high interest rates.
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Are your credit cards more expensive than they could be?
Posted on August 30th, 2010 No commentsCredit cards can be a flexible way of borrowing money, but they can also be the more expensive option. There are ways to lower the costs of credit cards.
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