By: chris sandberg
What is credit? what are the forms of credit?
Two forms of credit are in the form of loans and credit cards.
With credit you must pay interest fees.
What determines if some one gets credit and how much they get?
3 vocab words
Credit Bureau: Has a record of every adults bounced checks, missed payments if sued or bankrupt.
Credit Score: A number that reflects credit worthiness and your ability to pay bills on time.
What is a credit card?
2.Credit Limit : The maximum amount of money you are allowed to spend using a credit card.
3.Interest Rate (APR): 0% to 29% pay by due date means no interest fee.
4.Penalty Fees: additional fee's due to being late, over credit.
5.Over-the-limit fee: going over credit limit.