Using Credit Wisley

Lydia Pinkerton

Credit and Debit

With a debit card, you are spending your own money. With a credit card, you are buying things with the bank's money and will have to pay it back soon.

Cool Apps for Cool Credit

Acorns-Acorns links up with your credit card and bank account, and every time you pay or bill or buy something at the store, it will automatically round off to the nearest dollar and put that money in a flexible, automated investment portfolio.
Robinhood- You deposit any amount of cash into the Robinhood account. You can use that money to buy and sell stocks without any per-share fees or per-trade fees. For those used to brokerages, this is a real game changer.
Betterment- Betterment is an automated investing service for those interested in large scale, long term investing strategies.
Qapital- Qapital lets you set rules that automatically deposit cash into savings as you go about your day and spend money, rounding up little deposits to help you unconsciously save. Those savings can then go into goals that, once achieved, can be withdrawn or used instantly on a Qapital debit card. It’s a savings account that makes it both easier to save and easier to spend.
Mint- Mint, Intuit’s personal finance app, is a lifesaver for keeping tabs on your overall financial health. The app links up with all your different bank accounts, loan accounts, credit cards, and shows

Advantages and Disadvantages of Credit

Advantages- Convenience,Record keeping,low interest loans

Disadvantages- Overuse, Paperwork, High cost fees

Annual Percentage Rate

With credit cards, the APR could vary.


Ex:

A camera costs 600 dollars with a 18% and monthly payments of $50 it would take me 14 months to get the camera.

Credit reports

You can get your credit report once a year for free at this website.

Credit Counseling

They look at your credit reality and help you create a budget for you.

How to have good credit

Watch balances

Pay bills on time

Eliminate credit card debt