By Erika Pimentel Period 9
Inflation: A general increase in prices and fall in the purchasing value of money
Debit Card v. Credit Card: Debit card is when they take out money right away.
Wire Transfer: A method of transferring money from one person or institution to another. It can also be from one account to another
What You Need To Know
You should only use a credit card during emergencies. You don’t want to spend it like water because you don’t want to be in debt. You have to pay back. The faster you pay, the better your credit score will be. You should start when you are 18. You should choose wisely. Choose the card that has good benefits, but not that expensive.
What is a credit card? It helps establish a credit score. The bank give you this card where you can purchase things, but you have to pay them back.
Where can you use credit cards? Basically anywhere
What are the benefits and costs of using credit cards? Cost: There is an annual amount that you have to pay between 15-100$. There is an interest (APR) 0-29% pay the entire amount by the due date. There is a limit on each credit card and an extra 30$ for each charge made beyond the limit of the card.
Smart Consumers: Don't Fall Into The Credit Card Trap
You should stay safe using a credit card because it affects your future. You won’t be able to buy things like cars or a house in the future. The credit card companies can manipulate you. You need a credit card so that you could get credit score, but you also need to be careful. Just use it for emergencies or maybe once every two months. You don't want to owe all that money later on, or pay a fine because you went overboard. Pace yourself and be smart.