The credit is one such important issues in life that should be taught a compulsory subject in all schools, because if it was I'm sure many people would not, the problems they have today. Secure credit is discussed in school and sometimes in the house, but it should work skills and basic knowledge that we all should with his life.
Credit card providers in the first instance of something we lacked in our materialistic society that we can not afford today. We do not think it's the amount of the refund as high or that the period is so long, so long as we get what we want today. Over time, the lender has a lot of money from us. The functioning of credit to the work. The savings to give to countries that will be pursued in return and spend a lot of money, and the cycle, which for many people, unfortunately, leads them to have difficulty repaying the loans they have borrowed. Lenders know that a certain amount of loans are not repaid, they compensate for this by the return achieved on lending to people who do not pay it back by higher interest expense, Credit.
If people understand the functioning of credit will be less of us who will move quickly and often for a loan. In the days before the credit, the people things that they need to purchase, they would save, or simply rely on lay-off prior to taking possession of them was paid. These people provided a better understanding of the value of the currency and determine the value of the real, if they really need a specific item, knowing a microwave society, unlike today, when we have these items, they are really necessary or not.
If you think paying the loan on the payment above the minimum repayment amount. If your credit rate of 10% for every dollar of recovery, you actually get a return of 10% over a mixture of a residual amount of capital less the next time the balance is due. Do this for a number of months and you will see your credit to reduce costs and think twice before applying for your credit.
