So I know what soft checks are but what are hard checks?
Hard checks do effect your inquiries. An example is when your parents file for a credit card.
Ok, so I understand the credit report, but what about your credit score?
Credit scores are a mathamatical tool created to help a lender evaluate the risk associated with lending a customer money.
So how is it calculated?
10% is the types of credit in use, another 10% is pursuit of new credit, 15% is credit history, 30% is outstanding debt, and 35% is payment history.
?
Not that I have any problem of people doing homework assignments or creating classroom aids on here (it's cool that this site can do more than facilitate the dissemination of vagina jokes), but I'm just curious how it's apparently become a "thing" to do.
I submitted one of my sets for a class I took a few years ago. I got to stand in front of a room full of sleepy freshmen and explain the literary merit of comparing Final Fantasy XI to dong salad, which I enjoyed.
I seem to remember Brad saying that he added the obscenity filter in response to teachers who had e-mailed him saying that they wanted to use SC in the classroom, but felt that they couldn't because of all the vulgar language.
--- The what mentioned above is total fiction. Please don't take it seriously!
So what does it mean when a credit card has "interest"?
RAAAAAR TOBOR WILL EXPLAIN THAT INTEREST IS THE PRIMARY WAY THAT CREDIT CARD ISSUERS GENERATE REVENUE!
OK, so I understand that card issuers need to make revenue, but how do they do this with interest?
TOBOR ELABORATES BY EXPLAINING THAT INTEREST MAKES A BORROWED AMOUNT INCREASE BY A PERCENTAGE OVER TIME!
Oh, I see! So the longer people take to pay their credit card bills, the more money the card issuers get! What if people borrow more than they can ever hope to pay back?
TOBOR WOULD LOVE TO BOTH TELL YOU AND SHOW YOU IF IT WERE NOT FOR THIS $@!*% OBSCENITY FILTER!!!
--- "He was cursed with a horrorshow of a face, like Guiseppe Archbold doing a study of mollusk tumors."