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The borrower is given a credit limit, which is the loans maximum amount of money that they are allowed to borrow. Lower interest rates: Credit unions are non-profit financial institutions, which means they are not focused on maximizing profits.
Use credit wisely: If you do have credit, use it responsibly. Cardholders should also be aware that using a cash advance on a credit card can be a sign of financial distress, which can impact their credit score and their ability to borrow money in the il future.