Using Credit Wisely

The difference between a credit and debit card

A debit card uses funds directly from your account. A credit card borrows money that you will pay at a later time.

Three ways to develop a positive credit history

  • Pay bills in the full amount
  • Pay bills on time
  • Do not borrow more credit than you need

Five financial tools to help you

  • Prosper Daily-a personal finance security service to track spending and protect your cards from fraud and errors
  • Mint Bills-app that helps you track your bills
  • Level Money- a mobile money meter to track your daily cash flow
  • allows you to track, budget, and manage your money
  • Personal Capital-allows you to easily monitor your finances

Advantages and disadvantages of credit


  • Easily purchase items
  • Your purchases are protected
  • Helpful in emergencies

  • Makes it hard to stay on a budget
  • High interest rates
  • Credit Card Fraud

APR and what you should know

APR stands for annual percentage rate or interest rate and helps you compare how expensive a transaction will be to decide what credit card is right for you.

An example would be if you wanted to buy a $100 TV with 18% interest with monthly payments of $50.It would take 3 months for a total of $102.29

Credit Reports

You can receive a free credit score every 12 months from each credit reporting company. If there is ever a mistake on your credit report you should contact the credit bureau showing the wrong information.

Credit Counseling

Apprisen is a credit counseling company located in Ohio. They help people build financial knowledge, establish financial stability and develop financial confidence. They can be contacted at 800.355.2227
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