The Basics of Credit
What are the forms of credit? Forms of credit are Loans from lenders, and credit cards.
What costs are associated with credit? House, car, and school.
What determines if someone gets credit and how much they get? Must demonstrate your creditworthiness, your reliability to pay back a loan, judges use the 3 C's of credit which are Character, Capacity, and Capital. Check your credit score, credit report, and credit bureau.
A form of money.
A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
A provision added to an insurance contract altering its scope or application
Credit Cards What You Need to Know
Where can you use credit cards? You can use credit cards pretty much anywhere such as Grocery Store, Gas stations, Restaurants etc.
What are the benefits and costs of using credit cards? A benefit would be gaining credit which would allow a consumer to purchase more goods. This would then raise the economy because it would create job opportunity's. Some costs would be grocery shopping, gas, needs and wants such as shampoo, and going out to the movies.