Credit Newsletter

Nathan Colindres p1.

Basics of credit

  • Credit is being able to borrow money but you must pay it back in the future. Credit isn't free and you have to pay Interest. It will eventually cost people more money to borrow money depending on the interest Percentage.
  • A type of form for credit is called a Credit Bureau. This form collects info on the consumer's credit and will sell it. Another form is called Personal Loans. Personal loans you must put your interest rates and debts.
  • To get a Credit Card, you must be at least 18 and must have a interest at least from 0-25 percent.
  • Credit cards are not free. People have to pay an annual interest in order to have credit.

What You Need To Know

  • A Credit Card is a card that is issued by the bank, so people and purchase goods or services. You will get annual fees to make sure you pay the credit card.
  • A credit card can be used pretty much anytime you are going to purchase a good or service. In order to use a Credit Card, you must have a Interest rate of 0-29%. If you cannot pay off your credit card. You will get a Penalty fee.
  • The benefits of Credit Cards is that people with jobs can spend more money, They can use credit to purchase more goods, and credit cards make people have more jobs. The Costs of having a credit card is that a credit card has a Over the limit fee. If people don't pay off the credit cards they will get fined with even more money. People fall into very bad debt and can no longer purchase goods.


Lender : A lender, is a Orginization or person who lends money to other people.

Credit Report : a credit report is a record of someone or a orginization of how much money they spent on a credit card.

Credit Score : a credit score is how likely a person is going to pay back what they owe.

Don't Fall Into Credit Trap

In order to stay safe while using a credit card, at least wait until you are 21 or older to purchase one. Once you are 21 you will have more money in your bank account so when you do have one you have money to pay back the items you purchased. Also, you should think about what your going to purchase before you actually buy it. If you have no left over money and buy something with your credit card, you will be fined and may be in a huge debt.