Credit Unit

By: Blas Corral

Section 1 The Basic Of Credit

What is Credit?? that is the most basic questions customers ask. Credit has been used since the mid-evil times, but in a different form. when I think about credit is when people borrow money from the government and charge some interest in that money in till you pay back.

costs associated with credit

One of the biggest thing associated with credit is the interest you have to pay because the money you borrowed during that period of time. time is also associated with credit because if you don't pay back you may have your stuff taken away, also people don't understand the basics of credit and may take advantages because they see it as plastic and may get into a huge debit problems.

Forms of Credit

There are many types of credit that people can get if there really going to a tough time or just need the money for something they really want. student loads is what most students go for when they graduate and want to go to college. credit cards are also types of forms people get know this day to buy things that are expensive.

How to get Credit

There many methods that determine if you are able to get credit. One that is that you have pay your bill on time which makes you legible to get credit. you can get if you put you name under your parent contract to get credit if you are under 18.

Section 2 Vocabulary Watch

Important Credit Vocabulary Terms

Interest (APR)- describes the interest rate for a whole year

Credit Report- Credit history or credit report, a record of an individual's or company's past borrowing and repaying.

personal loans- a loan that establishes consumer credit that is granted for personal use

Section 3 Credit Cards: What You Need To Know

A credit card is a plastic card issued by the bank, business, etc for the purchase of goods or services on credit. you can use credit card almost about anywhere for example stores, restaurants, services etc. the benefits for using a credit card are you buy stuff you can not afford and as time goes on you earn credit. the cost of using credit is you have to pay some interest rate, and you don't pay on time what you borrow you'll get over-the-limit-fee.

Section 4 Smart Customers: Don't Fall Into The Credit Card Trap

In my opinion the are many ways to stay safe and use the credit card in a responsible matter. first of all don't give your account number over the phone unless you are the one who started the call and know the person. always check your monthly statements and see what you bought and check for errors.
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