Olivares Financial Solutions

HUGE shoutout to our client‼️ One negative account removed and an increase to his score‼️ He is trusting the process and being sooo coachable‼️ You have the power through ACTION to better your situation. Whose next⁉️

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Revolving accounts VS Installment accounts

Revolving Credit Accounts

A revolving account is a credit card such as a retail store card, bankcard, or gasoline card. You are given a maximum amount you can charge on the card, which is called the "credit limit." You have the option to pay these accounts in full each month or pay a minimum amount. If you don't pay the account in full each month then the amount still due "revolves" to the next month and accrues interest, hence the term "revolving account."

Installment Credit Accounts

Installment loans are accounts where you owe a fixed amount each month for a specified time frame. Examples of installment accounts are auto loans, mortgages and student loans. The monthly amount is determined by the total amount you borrowed, the interest rate and the length of time to pay. For example, a 30-year mortgage of $100,000 at 4% interest with a 20% down payment will cost you 360 equal installment payments of $686.

🚨Client Results on this Monday🚨

Whose ready to better understand and take control of their credit⁉️ Let’s talk 🙌🏼📲