Cost of Money



Cost of Credit Depends on Lender
The cost of credit in the USA depends on the institution you are borrowing from, your credit history and how much you want to borrow. It varies from lender to lender, because each institution has their own policy and this means you should compare costs before accepting a particular lending facility.

Borrowing a small amount of money results in smaller costs, and borrowing a large amount increases the costs, including the financial charges. The longer you take to repay the debt, naturally the more you will have to pay. The cost of credit therefore varies with a number of factors, so look at each one when selecting a lending institution to borrow from.


Credit Worthiness
Your credit history is very important because it shows that you have the ability, and you are faithful in repaying a debt. It is measured by looking at your past record history where you have had credit with other firms. Your credit worthiness is shown by how prompt and reliable you have been in making past credit payments. Ther...

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