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Credit Sources: Banks, Finance Cos & Cards

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United Arab Emirates

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Credit Sources: Banks, Finance Cos & Cards
 

Credit Sources: Banks, Finance Cos & CardsOnline version

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by sarah ayyad
1

Credit card companies do not report payment history to credit bureaus.

2

Finance companies have the same risk-based pricing as banks for all borrowers.

3

Credit card companies offer 0% interest on all purchases indefinitely.

4

Credit card companies provide revolving credit and periodic statements.

5

Banks approve loans without checking your income.

6

Credit card interest rates are always below 5%.

7

Finance companies are always local and never operate nationally.

8

Banks avoid checking borrowers' credit scores.

9

Credit card companies do not issue physical cards.

10

Finance companies never require any documentation.

11

Banks are the only source of consumer credit.

12

Banks offer secured loans with collateral often required.

13

Banks fund loans entirely from government subsidies.

14

Credit card companies never charge annual fees.

15

Finance companies typically charge higher interest rates than banks for similar loans.

16

Finance companies always offer the longest repayment terms.

17

Banks can lend without any collateral on anything.

18

Credit card companies only issue debit cards.

19

Finance companies can only lend to large corporations.

20

Banks never use credit scoring models.

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