Personal Credit

Presented By :
Jaybien Mampuste
Kathlyn Jambalos
Markgil Opao
 Personal Credit
Personal credit is what you build by showing
trustworthiness when it comes to paying
your bills on time and in full, from credit
cards to automobile loans to home loans.
Doing so increases your credit standing.
Service credit
A type of credit or debt that is extended by service based
businesses or companies. Instead of paying with money, an
individual can accumulate a debt or credit by providing services
or assistance to a company or individual.
Retail credit
A retail credit facility is a method of financing—essentially, a type
of loan or line of credit—used by retailers and real estate
companies.
Retail credit facilities can be business-to-business, as in a
company obtaining financing from a bank.
Regular charge account
A charge account is an arrangement where a customer can purchase products
or services on credit.
Charge accounts mean that you can still buy when you are short of cash, and
take advantage of sales and bargains
Revolving charge
A type of credit arrangement that permits a buyer or a borrower to purchase
merchandise or obtain loans on a continuing basis as long as the outstanding
balance of the account does not exceed a certain limit.
Installment plan
An installment plan is a system in which the buyer can take and use goods by
paying a percentage of the price as deposit, and pay the remainder due by a
series of regular installments.
 Personal loan credit
A personal loan credit refers to the amount of money a
financial institution or lender is willing to lend to an
individual based on their creditworthiness, income, and
other financial factors.

A personal loan is a type of loan that allows flexible use,

short- to moderate-term repayment options and relatively
quick funding.
Criteria for granting personal credit - Credit criteria are the various
factors that lenders use to decide whether to approve someone's
application for a new loan.
Credit History
Lenders will review your credit history to assess your past borrowing and
repayment behavior.
Credit Score
Credit score is a numerical representation of your creditworthiness.
Lenders often use credit scores to quickly assess your creditworthiness.
Income
Lenders will typically evaluate your income and employment stability to
ensure that you have the financial means to repay the loan.
Debt-to-Income Ratio
Lenders may consider your debt-to-income ratio, which is the
percentage of your monthly income that goes toward debt
payments.
Purpose of the Loan
Lenders may consider the purpose of the loan when
evaluating your application
Collateral
Secured personal loans require collateral, such as a car or
property, to secure the loan.
Thank You