Know about Credit!!!!
Sandra Carrera period 3
Section:1 The Basics of Credit
Credit- The ability to obtain goods or service with before payments.
Credit score- It is the persons past credit.
Credit Bureau- Company that collects the credit ratings of individuals and makes it available to credit card companies.
Credit Report- A record of an individual's or company's past borrowing and also repaying.
Interest- The charge of the privileged of borrowing money.
Lender- An organization or person that lends money.
Credit Cards- A plastic card used to buy goods or service.
Personal Loans- A loan that establishes consumers credit.
Section:2 Vocabulary Watch
Premium- an amount to be paid for an insurance policy.
Creditworthiness-trustworthiness with money as based on a person’s credit history, general qualification for borrowing.
Section: 3 Credit Cards What you Need to Know!!
You should use a credit card to apply credit. For some payments that need to be made. Don't over do it when using a credit card. There are credit limits on credit card use. People will get a penalty fee if they commit any violation with their credit. People have to be careful on how they use it and on what. Consumers will be charged a percent of interest rate for the sum of money use. The benefits of using a credit card is that it gives you credit and that is a good thing for you because the better and the more credit the better. If you are a person that goes over your balance on credit card you will get and over time fee.
Section:4 Smart Consumers: Don't Fall Into the Credit Card Trap!
Never over do it with credit cards because it will affect you and will be charged with a fee.
Make sure your the only one using your credit card and someone else. Never give the card number through the phone.