The Commercial Culture
February 27, 2008 by Carl Chapman
Filed under Credit 101
While bartering was a very clear and easy-to-see way of dealing, it was fairly rigid in the structure and in the types of arrangements people could make with one another. You could, or more properly would, only trade for what was “at the table”. You traded your grain because you needed [...]
Installment loans
February 27, 2008 by Carl Chapman
Filed under Credit 101
Installment loans given by goods and services providers for the purchase of their wares were undoubtedly the first form of consumer credit. Think about it- you walk into a store where the merchant is successful and you ask him for some money so you can make a purchase. In which case [...]
Credit Cards
February 27, 2008 by Carl Chapman
Filed under Credit 101
This is how a credit card works. When you apply for a credit card, a credit card company issues you a card. The card comes with a “credit limit” or the maximum amount you may charge to the card. Then every month you will receive a statement detailing the charges you made [...]
The Finance Company
February 27, 2008 by Carl Chapman
Filed under Credit 101
These laws slowed the growth of the credit market and here is why. Pretend you are the lender with all the money. The market will let you get, say, 18% if you lend your money- but there is a law that says you can only charge 5% or you [...]
General Credit Terms in Early Consumer America
February 27, 2008 by Carl Chapman
Filed under Credit 101
The Price is Right – If there is Credit!
And it was not only long-time resident Americans who were eager and willing to borrow, the 1920’s witnessed a population splurge brought about by European immigration to the cities and the nice, clean countryside. These newest arrivals were also eager to [...]
Debtor Diligence and Reliability
February 27, 2008 by Carl Chapman
Filed under Credit 101
You Have My Word and a Handshake Probably the biggest factor in deciding whether to give or withhold credit is the concept of confidence. If you don’t believe in the person asking for the loan, don’t feel confident that his situation is stable and will continue to remain so [...]
Vehicle Ownership
February 21, 2008 by Carl Chapman
Filed under Credit 101
Auto Loans Auto Leasing
So you’ve decided that you’ve found what you were looking for and now you’re ready to commit. You’re not letting this baby get away and so you stroll up to the likeliest sakes person and tell them that you’ve your mind made up, that you could get it anytime, but that today [...]
Credit Card Types
January 21, 2008 by Carl Chapman
Filed under Credit 101
Even though they are all made out of cheap plastic, and probably even produced by the same card manufacturing company, all plastic credit cards are NOT the same. There are very different types of credit cards. Which is better? Well that depends on you!What are your needs? What is your situation? If you’ve already got [...]
Very Early Debt
January 21, 2008 by Carl Chapman
Filed under Credit 101
The lowly peon’s Plight
History has shown the presence of a slow but strong movement toward helping to reach higher levels of commercial activity. All the steps so far mentioned have had the effect of making trade easier to conduct and have supported increased amounts of trading.
Debt, the result of borrowing, is a strong force that [...]
