From my understanding, Credit is coming from someone else's pocket, not sure who, but I have to pay them back and sign a receipt, right? How long do I have to pay them back before my credit score drops? And how do I pay them back? Through the bank or credit union?
Debit is just money from my own pocket, and I have to put in a pin. Right?|||Credit is using someone Else's money to make a purchase. Most credit cards give you 25 days to pay it back interest free. You mail a check or pay online to the bank that issued the credit card
Debit is using the money sitting in your checking account.
Your score does NOT drop if you pay your bills on time by the due date.
Buy the Book Finances for Dummies|||you pay each month, pay through bank
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment