Credit and Debit

Differences

Debit deducts money from your funds right then. Credit you pay at the end of the month and pay for whatever you've used the card for then deducts from your savings.

Three ways to help credit history

Pay your payments on time, pay your payments fully, also don't use your card if you don't have any money on the account.

Some places that may help you out.

Mint is a money budgeting app that you can sign up for free it helps budget all your money and expenses including 401k and IRA it is completely free, also shows real time cash flow. Goodbudget.com is a completely free app that helps budget your money by putting your money into online envelopes so you don't spend your money on not needed things. Mvelopes is a completely free site that tracks every credit and debit transaction that you spend. It asks you to define income so it goes with your interest. Manilla is a free site that allows you to manage all credit card payment and subscriptions all in one place it also gives reminders to pay on time. Toshl finance is a free app that allows you if your traveling to manage a budget while traveling.

Advantages and Disadvantages to credit.

Some advantages would be convenience saving you time and trouble. Another advantage would be overuse such as spending beyond your means. Also is a record keeper of everything you've spent money on. Disadvantage would be spending money you do not have. Also cost you interest and fees. If spent wrong then can lower credit score.

APR

Apr is the amount of money you borrowed from the bank such as a loan expressed as a single percentage that includes an actual yearly cost of the loan. It is important when getting a credit card because the bank can determine to give you a loan or not by your credit card rate. So if you want to pay $200 for something and pay at an 18% rate at a minimum of 50 dollars you will pay 7.79 the first month for interest and will pay off the 200 dollars in 5 months.

Annual Credit Report

Having your credit report can help with many things, it shows if you've paid everything you need to. Also it can determine if you are able to get a loan from the bank. If you find an error than you should report it to the credit report agency so they can fix it.

If having financial problemss when borrowing.

See a credit counseling agency such as nfcc a non profit organization to help you get back on track.