By: Alverto Alvarez

The Basic of Credit

Credit is when can actually get your goods or services and meke their payments in the future. Their is different forms of credit such as getting loans for school, car, mortgage those are known as perrsonal loans and credit card is card where you can buy goods and make payments later on. Credit score has the informtion on a person's credit. The annual percentage rate determines on how much they will give the person. The lenders are the ones who give money to the people and they are the ones who say if it's okay to let them borrow money.

Vocabulary Watch

Credit Score is important to know because people need to know about their history about loans. The lenders are the ones who give people money but they are the ones who judge the person character and record. So they can get a personal loan. The interest (APR) depends on how long they will pay their loan and how much they need to pay a month.

Credit Cards: What you need to know

A credit card is you can use to purchase goods or services and pay the credit card in the future. You can use credit cards almost everywhere to purchase stuff. The benefits of a credit card is when you need it for an emergency you can use up that money. Costs of using a credit card is not paying your credit card bill and letting your bill get higher and you can end up in debt. If you pay your bills your gunna have penalty fee's. It's important to know what's your interest rate so you would be able to pay your monthly payment.

Smart Consumers: Don't Fall Into the Credit Card Trap

Ways to stay safe by using credit cards you should have a job are able to make your payment a month. You should know your limit when you go shopping or just use the credit card for emergincies only. Always make your payments on time by the end of the month. So your bill won't pill up and you might end up in debt. Never take out loans when you know you're not gunna be able to make the payment. Don't right down your pin any where you will have to memorize it, and keep your credit card somewhere safe where you know your not gunna lose it.