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Question
when applying for a credit card, one should compare aprs, fees, and programs.
failing to pay your credit card balance can lead to penalties and a decrease in your score.
a credit cards limit is the maximum amount you are allowed to borrow on the card.
inquiries occur when lenders check your credit report to make a lending decision and can affect your credit score.
Brief Explanations
- Credit card rewards programs offer benefits like cash - back, points, or miles for spending.
- Credit score is a measure of creditworthiness; late payments harm it.
- Credit limit is the maximum borrowing amount on a card.
- Credit inquiries happen when lenders check credit reports for lending decisions.
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