Credit Newsletter

By Alen Sakinovic

Section 1

Credit is having the ability to obtain goods or services before payment.The forms of credit you can have are loans,Installment loans,Credit Cards,With Loans what you as a lender can do is borrow a certain amount of money but then you have to repay it back with interest.Then you have Installment loansWhich means they are made for an amount and the loan is paid in fixed monthly payments over a period of time.Credit cards are more of a personal loan,Credit cards allow transactions up to a credit limit, Each time you use your card you are borrowing the money until you pay it back,If you pay it back on time your Credit Score improves. The benefits of having good Credit you can get loans easier like for example,if you want to get a loan for a car It will be easier for you if you have for example a 731 credit score instead of someone Who has 535, before the bank gives you the loan they get your Credit Report to see if you can get the loan. If you have good credit the bank trusts you on giving you the loan because you have Creditworthiness.

Section 2

What Credit cards can do is they allow transactions up to a credit limit, You are borrowing the money until you pay it back if you don’t pay it back on time you will receive penalty fees.

You can use credit cards anywhere where they offer the ability to use them for example,

You can use them at stores,restaurants, online shops but you can to be careful with shopping online because they can scam you and charge you for stuff you didn’t choose to purchase.

There are benefits and disadvantages of using credit cards. What can benefit you is having good credit if you make your payments on time but some disadvantages are that if you don’t make your payments on time they could increase your Interest Rate , another disadvantage is if you go over your credit limit, the bank will give you a huge Over-the-limit fee with Annual Fees.

Section 3



Chase Freedom Blue Cash Everyday®



Annual Fee


Chase Freedom -0 Blue Cash Everyday- 0


Annual % Rate (APR)

Chase Freedom -14.24%-23.24% Variable Blue Cash Everyday-13.24%-23.24% Variable


Grace Period


Chase Freedom - 21 day grace period Blue Cash Everyday- 25 day grace period



The Advantages of having a Chase Freedom is even though it has late fees, it never charges a penalty APR. That’s welcoming news.Some Disadvantages of having a Chase Freedom is Chase Freedom does not offer credit monitoring or credit score updates as a perk of membership so you won't be able to get updates on your credit score


Some Advantages of having a Blue Cash Everyday card you get rewards for everyday purchases like gas,shopping at department stores and grocery stores. But some disadvantages are some stores may not accept Blue Cash Everyday.

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Section 4

Some tips I have for people who want to be smart consumers and use credit wisely,make your payments on time. Late payments will cause for your credit score to lower and cause your interest rate to increase and also some late fees. Another tip I can give is set up a budget and live with it so you can avoid using credit to overextend yourself.