{"id":434,"date":"2018-06-02T07:50:47","date_gmt":"2018-06-02T07:50:47","guid":{"rendered":"https:\/\/www.ezpaydaycash.com\/blog\/?p=434"},"modified":"2025-06-03T12:08:57","modified_gmt":"2025-06-03T12:08:57","slug":"what-are-the-three-cs-of-credit","status":"publish","type":"post","link":"https:\/\/www.ezpaydaycash.com\/blog\/what-are-the-three-cs-of-credit\/","title":{"rendered":"What Are the Three C’s of Credit?"},"content":{"rendered":"

The Three C\u2019s of Your Credit<\/h2>\n

Your credit status tells a lot about your borrowing and debt management history; how you dealt with your previous debts. Although it is subject to change from time to time, it gives a fair idea of your current situation. Since your credit score reflects that in a numeric form, direct lenders may run through it while you apply to take out a loan. Have you ever gotten curious how by looking at your credit status they get to know your creditworthiness- and grant you financing on its basis? There are actually 3 basic factors they look at in your credit. Popularly, they are called \u201cthe three C\u2019s of credit\u201d.<\/span><\/p>\n

1. Character<\/h3>\n

The first C of credit is character. As a borrower, lenders want you to have a clean character. That means they look at your credit reports to know if you cleared the previous debts on time without violating your obligation to repay. Before lending money, naturally, anyone would want to establish the honesty of a person. In order to do that, they would also ask you:<\/p>\n

\u2022 Do you have any outstanding loans?
\n\u2022 Did you miss any dues, and if so, did you contact your lender beforehand to convey that?
\n\u2022 Have you paid any penalty for any irregularities while in debt?
\n\u2022 If you have positive remarks in your credit report from the previous lender,?<\/p>\n

2. Capital<\/h3>\n

The second C of credit is capital. To take out a payday loan<\/a> it might not be a real necessity, but for secured loans like a mortgage, this aspect is required. Here the lender estimates the asset owned by the debtor. This also includes savings in terms of money and investments. In order to gather the details about capital, the financing company might ask-<\/p>\n

\u2022 What kind of properties do you own? Do you live in your own house?
\n\u2022 Since when do you have a savings account?
\n\u2022 What kinds of investments have you made over the years?<\/p>\n

3. Capacity<\/h3>\n

This is the third and probably the most important C of the credit. This is what even the payday lenders check before approving an application<\/a>. Because at the end of the day the borrower\u2019s capacity to pay back the loan decides if s\/he should be financed. Payday loans can be borrowed even with a bad credit score if this C of the credit assures that the loan will be paid back. To make sure that, the lender would want to know-<\/p>\n

\u2022 If you have a regular job? How much do you get paid?
\n\u2022 How much do you save per month?
\n\u2022 Do you have a second job or any other income source?
\n\u2022 How many people in your family are employed and how many are not?<\/p>\n

The debtor who has gotten all three C\u2019s of credit right can avail any kind of loan. However, since payday advances are collateral-free debts, \u201ccapital\u201d is not considered to be important. While the \u201ccharacter\u201d assures the lender that it can trust you, your \u201ccapacity\u201d suggests that the loan can be recovered.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Three C\u2019s of Your Credit Your credit status tells a lot about your borrowing and debt management history; how you dealt with your previous debts. Although it is subject to change from time to time, it gives a fair idea of your current situation. Since your credit score reflects that in a numeric form, direct lenders may run through it while you apply to take out a loan. Have you ever gotten curious how by looking at your credit…<\/p>\n

Read More Read More<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"\r\nWhat Are the Three C's of Credit?<\/title>\r\n<meta name=\"description\" content=\"Lenders check your credit status to measure your creditworthiness. 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