Using Credit Wisely
By Lindsay Hunter
What is the difference between a credit card and a debit card?
A credit card is borrowed money and a debit card takes money straight from your bank checking account.
Describe three ways you can develop a positive credit history.
Pay bills on time, stay under the credit limit, obtain a credit card.
Give a descGive a description of five different financial apps and/or websites that help people manage their money
Saved plus, LikeFolio, Wallaby, FutureAdvisor, Simple.
Explain three advantages and three disadvantages of using credit.
Ability to buy a house and/or car, an advance for applying for a job, a better chance to obtain a loan.
High interest rates, fees and penalties, high amount of debt.
What is APR and why is it important to know when applying for a credit card?
Annual Percentage Rate, it determines how much more you pay a year.
When and where can you order a free credit report? Why is it important?
Online anytime, you need to make sure that there are no errors or mistakes on your report.
What should a borrower do if they are experiencing financial difficulties?
Check with a professional and discuss possibilities of financial help.