News Letter

Krystal Kaup

Section 1: The Basic of Credit

What is Credit? Credit is a payement recieved, you need to record debits or credits made to your account.

What are the forms of Credit? Installment credit, Revolving Credit, Open credit

What cost are associated with credit? everytime you use a credit card there might be fee charges , and the fee varies

what determines if someone gets credit and how much they get? You must pay in Apr. If you want credit you must demonstrate our credit worthiness, if your reliable and will be able to pay the loan back. You must have a good credit score if not you most likely wont get credit. You will have a credit report on if yoiur credit is bad or good, you usually want good credit. You have 3 different lenders that they look at. If you want to borrow money you have to pay back which is called the credit Bureau. If you cant recieve credit you can recieve a personal loan.

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Section 2 : Vocabulary Watch

Vocab !

  • 1.) Character- a written statement of someones good qualities
  • 2.) Capacity - wealth in the form of money or other assets owned by a person or organization
  • 3.) Capital-wealth in the form of money or other assets owned by a person or organization

Section 3: What you need to know !

1.) What is a credit card? a plastic card issued by the bank for the ourchase of goods and service. They will all require penalty fees if you do not pay back.

2.) where can you use credit cards? Stores, gas statioms, online, restaurants.

Annual fees are yearly fees charged by the lender , who lets you use the card.

what are the benifts and cost of using a credit card? Using a credit card you will get rewards with programs , may earn like traveling benifts.

Disadvantage- credit card is the cost to your Apr and fees.Some credit companies have a credit limit where you can only spend so much till they stop you. Over the limit is where you use more money than you can pay back.

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Section 4:Don't Fall into the Credit Card Trap !

If you want to be safe don't over spend on your credit card because it will put you in debt. Also when your at the store make sure to protect your card and the code while using it. Don't tell anyone your code because they can get your code get into your account and take and spend all of your money.
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