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why is the original amount of funds so low...the fees are so high which leaves nothing. |
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Date:
January 26, 2007, 9:42 pm |
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why is the original amount of funds so low...the fees are so high which leaves nothing. |
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Answer:
When you take a credit in a bank, the bank can't give you money if they don't trust you. If you have no credit, you have to make a collateral deposit in the bank. Thus you secure the credit (get a secured credit card), and after you pay it off, your credit history improves, you show yourself as a responsible person and the bank can entrust to you a larger sum of credit. High fees are also a way the bank tries to secure the risks.
After you achieve good credit score, you seem more responsible to the creditors, so you can take larger sums of money, paying less in fees and percentage. So, you should just wait a little, paying your cards accurately, and in e year or two you will see how higher will become your credit limits. |
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