Using Credit Wisely
Cody Beesler
Credit Card vs Debit Card
Debit Card- purchases deduct money from your current account from funds that you already have available
Credit Card- run up an amount of money that you will owe in the future, a balance that you will be required to pay back at a later date.
Three ways to develop a positive credit history
- Set up a budget and live within it
- Only borrow what you can afford
- Start with only one credit card
five different financial apps and/or websites that help people manage their money
- Buxfer
- Yodlee MoneyCenter
- Mint
- Clear Checkbook
- Mvelopes
Positives and Negatives of using credit
Positives- immediate access ,Security , rewards
Negatives- Interest, fees, overdue payments
What is APR and why is it important to know when applying for a credit card?
Annual percentage rate- a numerical representation of your interest rate
When and where can you order a free credit report? Why is it important?
you can go to many websites but be carefully for identity theft and make sure the website is safe.
Annual Credit Report.com is a good one
your credit report is very important because it is a life line in a way you need good credit to be accepted for houses, car loans everything.