{"id":4929,"date":"2019-05-14T13:45:47","date_gmt":"2019-05-14T17:45:47","guid":{"rendered":"http:\/\/caissealliance.absoludev.ca\/?p=4929"},"modified":"2019-05-14T13:45:47","modified_gmt":"2019-05-14T17:45:47","slug":"the-main-sources-of-credit","status":"publish","type":"post","link":"https:\/\/www.caissealliance.com\/en\/personal\/loans-and-debts\/the-main-sources-of-credit\/","title":{"rendered":"The Main Sources of Credit"},"content":{"rendered":"
\n

You can borrow from a variety of people or institutions, but not always with the same advantages. Here\u2019s proof.<\/p>\n<\/div>\n

Friends and family<\/h2>\n

At first glance, the advantages can seem appealing: you can negotiate the interest rate and payment terms with them directly. But a word of caution: if you have trouble repaying them, your relationship could be damaged forever.<\/p>\n

Financial institutions<\/h2>\n

Financial institutions are among the best sources of credit, especially when it comes to personal loans, student loans, mortgages, personal lines of credit, overdraft protection and credit cards.<\/p>\n

Retail stores<\/h2>\n

Many stores offer their own credit cards. Some also offer financing plans that allow you to pay for your purchases over time or even at a later date. Be careful: if you don\u2019t pay your balance in full on the due date, you\u2019ll be charged much higher interest rates than a regular credit card.<\/p>\n

Loan companies<\/h2>\n

Some companies specialize in giving out loans, often to people are turned down by other lenders. Since the risk is higher for the lender, the interest rates paid by borrowers are also higher.<\/p>\n

Yourself<\/h2>\n

Some people can lend themselves funds from their own investments, insurance policies or othersources. For example, the Home Buyers\u2019 Plan (HBP) allows you borrow from your RRSP to purchase your first home.<\/p>\n

The next step<\/strong><\/p>\n

Find out everything you need to know about the\u00a0Home Buyer\u2019s Plan<\/a>\u00a0(HBP) .<\/p>\n

Cheque cashing centres<\/h2>\n

These are not highly recommended because they charge high fees for cashing your cheques on the spot.<\/p>\n","protected":false},"excerpt":{"rendered":"

You can borrow from a variety of people or institutions, but not always with the same advantages. Here\u2019s proof. At first glance, the advantages can seem appealing: you can negotiate the interest rate and payment terms with them directly. But a word of caution: if you have trouble repaying them, your relationship could be damaged […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[108],"tags":[],"class_list":["post-4929","post","type-post","status-publish","format-standard","hentry","category-loans-and-debts"],"acf":[],"yoast_head":"\nThe Main Sources of Credit | Caisse Alliance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.caissealliance.com\/en\/personal\/loans-and-debts\/the-main-sources-of-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Main Sources of Credit | Caisse Alliance\" \/>\n<meta property=\"og:description\" content=\"You can borrow from a variety of people or institutions, but not always with the same advantages. 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