Sarina Rashid Period 10
What Is Credit?
What are forms of credit?
- Credit Cards
- Advanced Payments
What Costs Are Associated With Credit?
- Credit is NOT free
- You must pay an annual rate of interest
What Determines If Someone Gets Credit and How Much They Get?
- Savings, Investments, and Propriety
- Use Capital To Pay A Loan If Needed
- High Enough Income
- Major expenses & Debt
- Steady Job
- Long Term Of Residency
What is a Credit Score?
What is the Credit Bureau?
What are credit cards?
They give intensives like cash back, air plane miles, and points.
You can use a credit card almost everywhere:
Stores, restaurants, and salons among other places.
But there are fees that come with credit cards:
- Required annual amount of money you must pay
- If you don't pay the entire balance back by it due date there could be interest from 0% - 29%
- All credit crads have a credit limit
- If you spend past the limit amount you have to pay a over-the-limit-fee
- If you pay the bill late you have to pay a fee
- All of these things could increase your interest rate
How To Stay Safe When Using A Credit Card
- Consider a loan instead of using a credit card
- Pay your credit card balance in full
- Choose the card that was the least expensive and the greatest awards
- Avoid having to many cards
- Pay in cash for most things