Credit Newsletter

By: Mark Wach

The Basics

What is Credit?

  • Allows you to purchase expensive items
  • Money that is used and must be paid off
  • Buy something whenever you want
Credit is the ability to obtain good or services before payment, based on the trust of payment. When someone wants to build their credit score, numeric information based on your credit report, a record of an individual’s past borrowing and repaying. Building your credit will over improve your creditworthiness, your general qualification for borrowing, and help you apply for more credit options.

Forms of Credit

  • Student Loans
  • Car loans
  • Home Loans
  • Credit Cards
  • Low Limit Cards

The 3 C's

Character: Are you trustworthy? Will you pay Debt?

Capacity: Capability to pay it back.

Collateral: have the right to take things from you.

Credit Worthiness: Have you paid your fees.

Credit Cards: What You Need to Know

What is a credit card?

-A plastic card issued by a bank, business, etc., for the purchase of goods or services on

Where can you use credit cards?

-Anywhere it is accepted

What are the benefits and costs of using credit cards?

-Can build successful credit

Important things to know about credit cards is that there are annual fees, which is a fee you pay every year for using the card. As well as interest rates for the yearly amount of money that you borrowed. There are though negative which cause you to pay extra charges like penalty fees, and over-the-limit fees, which are charged when one goes over their credit limit.

Smart Consumers: Don’t Fall Into the Credit Card Trap


-read the fine print
-buy things you need really need not what you really want
-check credit report at least once a year
-sign your credit card as soon as you you get it
-don’t share account info
-pay more the minimum balance
-use secure browser when shopping online
-keep track of what you charge
-pay on time