Beware of predatory lending, which involves falling for high-interest loans and deceptive lending practices. To avoid becoming a victim, make sure to do your research and compare loans from different lenders. It's important to steer clear of high-interest loans, especially those with interest rates that increase faster than you can repay them. Before signing any loan agreements, make sure you understand all the terms and conditions for repayment.
Canada's new laws target predatory lenders →Credit is money that you may borrow from someone (like a bank or credit card company). You must consent to repaying them on a predetermined timeline, typically with interest, by signing an agreement. The four basic types of credit: - Revolving credit - Charge credit - Instalment credit - Service credit Each serves a different purpose and works in a different way.
Learn more about credit and why credit scores are important →← Curating the web to find the most interesting and helpful information about your money.