Young Money With Tracey Bissett

Almost everyone will need to make use of credit at some point in their lives, whether it’s by applying for a loan, credit card or a line of credit. There are many things that lenders take into account when you apply for credit, and the assessment of these will result in either a positive or negative lending decision.   Today, I am sharing insights into how a bank decides whether or not to give you a credit card, loan, or line of credit. I explain the 5Cs of credit and the evaluation process that takes place when you apply for credit from financial institutions or retail stores. I also share some best practices to help you stay on top of your finances and obligations.       “Character is often the big decider as to whether or not money is lent.” - Tracey Bissett      This Week on Young Money:  Understanding your debt service capacity and the Total Debt Service Ratio (TDSR).  How lenders score your financial reputation aka your credit score.  What role your character plays in the decisi