Using Credit Wisely

Tim Dixon

Knowing the Difference

Credit cards borrow money that you have to pay back later. A debit card is where you take money out of a account you put money in to like a checking account.

How to Develop positive Credit

1.Only borrow what you can afford

2.Start with only one credit card

3.Make all your payments on time

Credit apps/websites

Betterment; Helps with 401k planning

Mint;money management

InDinero;Accounting services and software for businesses

Simple;Automatic banking and account management

Square;Credit card processing and business solutions

Three advantages and disadvantages to credit

Advantages:

1.helps when getting a home

2.helps with getting a car

3. helps with paying for collage

Disadvantages:

1.Easy to overspead

2.easy to not make payments

3.Can get in debt fast

What is APR


    The annual percentage rate (or APR) is the amount of interest on your total loan amount that you'll pay annually (averaged over the full term of the loan). A lower APR translates to lower monthly payments. (You'll see APRs alongside interest rates in today's mortgage rates.)



    an example is when you make a 300 dollar payment and have a 18% credit card and ends up actually costing 316 dollars


you can get a credit report when...

Under federal law you are entitled to a copy of your credit report annually from all three credit reporting agencies - Experian®, Equifax® and TransUnion® - once every 12 months. Every consumer should check their credit reports from each of the 3 bureaus annually. Doing so will make sure your credit is up-to-date and accurate. Each reporting agency collects and records information in different ways and may not have the same information about your credit history. If you find a mistake in a report from a credit reporting company, you may submit a dispute not only to the credit reporting company, but also directly to the company that is the source of the information. However, there are certain types of disputes that companies are not required to investigate.

Credit help

Usa Cares helps families in need and will assit them in alll financial issues.


USA Cares, Inc.

562 N Dixie Blvd., Suite 3
Radcliff, KY 40160
(800) 773-0387

Big image
Big image