Credit Newsletter

Build a good credit by making your payments on time

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Credit Basics

  • What is credit? The money lent or made available under such an arrangement.

  • What are the forms of credit? i.e student loans, credit cards, etc. There are student loans, credit cards, insurance cards, personal loans

  • What costs are associated with credit? Your APR interest and your late fees.

  • What determines if someone gets credit and how much they get?

That person gets an interest, insurance, credit cards, a lender, credit, a credit score that goes into your credit report and then to the credit bureau. Your credit score will determine if a credit card will get approved.

Credit Cards: What you need to know

  • What is a credit card? A small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.

  • Where can you use credit cards? In stores, banks, restaurants, etc.

  • What are the benefits and costs of using credit cards? The benefits are are that they can help you to get the goods and services you want and you won’t have to pay any annual fees or any kind of fees with the card. The costs are that you can sometimes find yourself in debt and might have to pay a penalty fee which is a lot of money.

Smart consumers: Don't fall into the credit card trap

Some ways to save while using credit cards is to not use it on things that aren’t important. Next, be careful on the amount of items you buy so you don’t use so much money. Lastly, use the money wisely so you won’t run out of it as fast.

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Created by

Eric Guzzi