Using Credit Wisely

Lydia Johnston

Credit vs. Debit

Credit cards are used when people are borrowing money in order to pay bills, but they also pay back interest.

Debit cards allow people to take their own take money out of their checking accounts.

Three ways to get a positive credit history

1. Make your payments on time

2. Establish credit with credit cards

3. Don't have too many open accounts

5 financial apps

1. Mint: Personal Finance and Money

2. Pocket Expense Personal App

3. Money Lover

4. AndroMoney

5. Budget Saved- Personal Finance and Money Management

Advantages and Disadvantages


-build credit

-get better loans

-purchase items you have the money for later


-spend money you don't have

-get into deep debt

-ruin credit score

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APR is the annual percentage rate. That is, the amount of interest charged when a credit card is used. This can change per year and it isn't the same for all credit cards. This rate can determine how much a purchase will really cost.

For examples:

If you want to purchase a laptop for $350 on your credit card that charges 18% APR and you make monthly payments of $50, the total amount spent will be $372.54. That's $22.54 extra.

Credit Report

One can obtain their credit report for free once a year through Experian, Equifax, and TransUnion. This is important because these are trusted credit reporting agencies and they're free. If you find errors, you should go to "How to Dispute Credit Report Errors" at

Credit Counseling Agency

Apprisen CCCS is a Credit Counseling Agency in Ohio. Services include counseling on housing, budget and credit, and bankruptcy.

5339 Ridge Rd. #201, Parma, OH 44129