Fernando Meraz

Section 1: The basics of Credit

What is credit? Credit is the ability to borrow money in return for a promise of future payment. What are the forms of credit? The different forms of credit are loans, installment loans, and credit cards. What costs area associated with credit? you must pay interest (APR). What determines if someone gets credit and how much they get? First you fill out the application to see if the lender would say that you are creditworthiness and if so the credit bureau says that you qualify and so then that when your credit score would begging and each time you want to apply for credit they company usually checks the credit report and see if you pay bills on time and if you have any personal loans pending to pay with.
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Section 2: Vocabulary Watch

Co-Pay- is a payment defined in the insurance policy and paid by the insured person each time a medical service

Endorsement- A recommendation of a product in an advertisement.

Electronic Transfer- is an automated process of transferring funds between banks and building societies, this process can take up to three business days

Section 3: Credit Cards: what you need to know?

What is a credit card? Is a card issued by a bank and business giving money in order to spend but have to pay it back usually involving credit limit, and interest rate(APR) for each time you use it. Where can you use credit cards? You can practically use it anywhere where they have the machines to use it but have to be careful to to use to much because then there's going to be over-the-limit-fee. or penalty fee for not paying the bills on time. What are the benefits and costs of using credit cards? The benefits is it would establish credit to be able to use in the future and have lower annual fees as the years go on.

Section 4: Smart Consumer: Don't Fall into the Credit Card Trap?

Start by signing your card as soon as you receive it, never put the pin code somewhere around the credit card. Keep account number private. BE careful when using credit cards dont let anyone see the pin number,never respond to email that ask for bank account number, notify your credit card issuer that you have moved so they could send the statement to your new adress