Section 1-4 (Martin Tenev, Zlatomir Todorov)
The Basics of Credit
Your credit history will probably go to a credit bureau, which collects credit ratings of us individuals to make them available to credit card companies. If you do have a good credit score, and everything is good with the credit bureau, then you also will have a lot of creditworthiness, which is trustworthiness based on a persons credit history. If you have everything under control, then most likely a lender will be willing to give you credit.
Creditworthiness: Trustworthiness with money as based on a person's credit history; a general qualification for borrowing.
Personal Loans: A loan that establishes consumer credit that is granted for personal use; usually unsecured and based on the borrower
Credit Cards: What You Need to Know
While using a credit card you should annually get a credit report from the credit bureau in order to prevent fraud or identity theft. You should also always make sure you pay on time and don’t go over the limit because you will be fined.