Credit Newsletter

Learn more about credit cards, right now!!

By: Nate Romasanta and Tyler Jones


The Basics Of Credit

Credit gives you the ability to obtain goods or services, based on the trust that the money will be paid back in the future. When you have a credit card, you get a credit score. This "credit score" determines how good or bad your credit is. It determines your creditworthiness. The scale for credit score is, from 350-850.


Types of credit:


  • Secured
  • Unsecured
  • Installment
  • Revolving


Credit Bureau: A company that collects information relating to the credit ratings of individuals and makes it available to credit card companies, financial institutions, etc.


Personal Loan: A loan that establishes consumer credit that is granted for personal use; usually unsecured and based on the borrower's integrity and ability to pay


Lender: An organization or person that lends money


Credit Cards: A card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered.


APR: Annual or annualized percentage rate, typically of interest on loans or credit


Creditworthiness: The ability of a consumer to receive favorable consideration and approval for the use of credit from an establishment to which they applied.


Credit Report: Confidential report on a consumer’s payment habits as reported by their creditors to a consumer credit reporting agency. The agency provides the information to credit grantors who have a permissible purpose under the law to review the report.








Vocabulary Watch

Credit Cards: A card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered.


APR: A measure of how much interest credit will cost you, expressed as an annual percentage.


Credit Report: Confidential report on a consumer’s payment habits as reported by their creditors to a consumer credit reporting agency. The agency provides the information to credit grantors who have a permissible purpose under the law to review the report.




Credit Cards: What You Need To Know!

Terms You Need To Know!

Annual Fees: A yearly fee charged by credit grantors for the privilege of using a credit card


Credit Limits: This is the total amount of money that may be charged to or held as a balance (or a combination thereof) on a particular credit card account.


APR: Annual or annualized percentage rate, typically of interest on loans or credit


Penalty Fees: Fees charged if you violate the terms of your cardholder agreement or other requirements related to your account. For example, your credit card company may charge a penalty fee if you make a late payment or if you exceed your credit limit.


Over the Limit Fees: For each month that their balance exceeds their loan limit, borrowers are charged this type of fee, which typically ranges from $29 to $39.


Ways To Be A Smart Consumer !

  • Compare prices between different stores
  • Check the expiration dates on foods so they last longer
  • Check the quality
  • Don't impulse buy
  • Only buy items that are a necessity