All credit is not equal but, you are liable to pay it back on time or it will have a impact on your credit score . Revolving credit is where you are given a credit limit and can have up to max credit limit. Each month you will carry a balance of the or revolve the debt and make a payment . Installment credit is when a creditor lends you certain amount of money and you agree to pay the money with interest with a mixed amount or a set period of time . Service credit is were you agreements with service providers to pay each month (such as energy or cell phone payments) this kinda credit may or may not get reported on your credit unless you default on the agreement and owe balances in which then reported and may will harm your credit score . Charge cards look like something like revolving credit and are used in the same way but, charge accounts differ and must be paid in total each month . #creditscore #chargecards #installments #creditrepairservices #payments #creditor #revolvingcredit #payontime #browngirlbloggers #700club #creolestyle #Louisiana #badcredit #timetochange #singleparents #singleparents #tcwilliams_financial #positivethinking #theshaderoom #carsalesman #homebuyers #realtors #positivity #low #loans #crawfish https://www.instagram.com/p/CASs6HKns-B/?igshid=16au799damfoe
