Using Credit Wisely

By: Margot Short

Credit Cards and Debit Cards

Credit Cards- Money is borrowed and paid back later, it is not connected to an account

Debit Cards- Money is taken out of an account, it is connected to an account that holds your money.

Positive Credit History

  • Always pay bills on time
  • Open a checking and savings account
  • Keep debt low

Financial Apps

These apps can help you mange your money in an easy convenient way.

  • Wally
  • Level Money
  • Spendee
  • IOU-Debt Manager
  • PocketGuard

Using Credit


  • You can receive bonuses, like frequent flyer miles and cash rebates
  • Can purchase expensive items
  • To save money


  • Tempted to overspend
  • Can be lost or stolen
  • The risk of identity left

APR and why it is important when applying for credit

APR- Is an annual percentage rate of interest a credit card holder will be charged on all or a portion of the balance if full amount isn't paid on or before the due date.It is important because it might cost you more money.

The cost of Credit Calculator

A car for $3,000

Credit Card APR 18%

Monthly payment $50

It would take you 155 months

Final month payment of $32.71

Total finance charge of $4,732.71

The total cost would be $7,732.71

As you can see your Credit Card APR does affect the amount of money you pay for the big things you want to buy.

Credit Report

The federal law says you are entitled to get a free credit report every 12 months from 3 major credit report agencies.

Where you can get your free credit report

  • Online at
  • By phone
  • Filling out a form to the Federal Trade Commission

Your credit report is important because you want to have good credit when you are wanting to buy a house or a car.

If something is wrong on you credit report you should contact the credit bureau.

Credit Counseling Agency

Apprisen is a good counseling agency, to help you they offer comprehensive programs and services to address your whole financial situation.

Apprisen's Corporate Headquarters

4500 E Broad Street

Columbus OH, 43213