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Installment Credit vs Revolving Credit. June 3

Filed under Credit, Mortgage by Uncle M | 0 comments

There are two types of credit that you can apply for: Installment credit and Revolving Credit. In an installment credit you get a loan for pre-determined period of time at a pre-determined interest rate with pre-determined payments. A good example of an installment credit would be your home mortgage. (more…)