Dulce Lopez 7/8
The Basics of Credit
- What is credit?
- What are the forms of credit?
- What costs are associated with credit?
- What determines if someone gets credit and how much they get?
- Credit Card: Its a plastic card given by your bank for the purchase of goods or services on credit.
- Credit limits: Its the max amount you can spend using your credit card.
- Over- the- limit fee: Its when the borrower is charged for exceeding the loan amount limit.
Credit Cards: What You Need to Know
- What is a credit card?
- Where can you use credit cards?
- What are the benefits and costs of using credit cards?
Smart Consumers: Don't fall Into the Credit Card Trap
Having a credit card can come out really handy for anything especially for emergencies. But you have to be really careful the way you use it. You should avoid having too many credit cards, having miss payments, and always read what you sign. Explore all the options there are, so you can pick the adequated account for you. Be aware of the annual fees, interest rate, and the credit limits. A common mistake is going over-the- limit, that later you can't pay and the interest amount makes it even harder to pay it. Just remember that a credit card comes with a lot of responsibility and that there are positive as well as negative consequences.