Credit and Debit Cards
Lexi Ruh 7
The Difference
Positive Credit HIstory
- Pay your bills on time and in full.
- Keep your balances well below your credit limits.
Manage Your Money
Mint
Betterment
Dwolla
Advantages and Disadvantages
-Convenience
-Instant cash
-Low cost loans
DISADVANTAGES
-Unexpected fees
-High-Cost fees
- Overuse
Annual Persentage Rates
APR is a single percentage number that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction. APR is important because it lets you know the general amount of money you are going to owe.
EX: If you purchase an item that costs $260 and you APR is 18%, you plan to pay $50 a month it would take you 6 months to pay it off and you'd pay a total of $272.73
Credit Reports
Financial Dificulties
If a borrower is experiencing financial difficulties then they should find a credit counselor or ask someone for help.
Consumercredit.com 800-769-3571