Using Credit Wisely

Trisha Ullom

The differnce between a credit card and debit card

A credit card is money that is not in your bank account, it's money you borrow from the bank and pay it back. A debit card is money you have in your bank account that you're spending.

3 ways to develope a positive credit history

one way is to pay off your charges in full at the end of the month. Another way is to always pay on time. The last way is to keep your total charges well within your credit limit. The ways I listed can help you develop a positive credit history

Apps/Websites to help you manage your money

Advantages and Disadvantages of using credit

Advantages: credit makes it easier for you to buy things, credit cards offer more protection with you purchase, it can build your credit history and help you.

Disadvantages: credit encourages you to blow your budget, charge high interest rates and if not paid off even more can be owed, there still can fraud with credit card owning.


APR is annual percentage rate. That means its the amount of interest that is charged yearly. Its important to know because some banks charge more apr than others and could affect your budgeting. Let say I wanted an iPhone 6 that's $600 and the credit card apr is 18% and you pay $50 a month. You would have to pay $66.35 total in interest.

Credit Report

You can get a free credit report yearly, you can look at it from a credit report website. If you find an error call them and make sure they fix it as soon as they can or it might affect the things you want or need.

Financial Difficulties?

if you're in trouble find a non-profiting credit council. Call 1-800-388-2227 for credit counseling
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