Credit Stuff

by: Miguel Torres

Basics Of Credit

●What is credit? Credit is The money lent or made available under such an arrangement

● What are the forms of credit? Some forms a credit can be personal loans, Interest(APR), or Credit Worthiness.

● What costs are associated with credit?

● What determines if someone gets credit and how much they get? The Credit bureau can look at your Credit report and depending on your Credit score is what determines how much you get.

Vocabulary Watch

● Creditworthiness- money as based on a person's credit history; a general qualification for borrowing

Penalty Fees- These are the fees a credit card companies usually charges you. These can vary from going over your credit limit to paying your bill past it's due date. Penalty Fees will vary.

● Lender- someone who lends money or gives credit in business matters

Credit Cards: What You Need to Know

● What is a credit card? A small plastic card issued by a bank, business. Allowing the holder to purchase goods or services on credit
● Where can you use credit cards?
Online, stores, or anywhere that accepts them.
● What are the benefits and costs of using credit cards?
The benefits that you get is that you don't have to carry cash around like a phony.

Smart Consumers

Don’t Fall Into the Credit Card Trap practice the 4 C's

Character: are you trustworthy?
Carry capacity: How much are yo given to spend?
Creditworthiness: credit report good?
Collateral: what do u have of value and where there are debts?