mikey szopinski p. 4/5
credit cards: what you need to know
credit cards is a card you use to pay for something that you dont have enough money to pay for. There is annual fees. You also have a credit card limit to your credit cards. you can use credit cards anywhere and use them for anything. There is an over the limit fee for when you go over your credit limit. There is Also APR for when you dont pay of your credit in time. Some Advantages you get for credit is bonuses, discounts, easier to buy, having a good credit.
Credit score is if your credit is good or bad. A high credit score is better than a low credit score.
Annual Percentage Rate is the interest you owe on something when you dont pay it off in time.
personal loans are when you take out big loans from the bank to pay for something.
smart consumers: dont fall into credit card trap
1st you have to use credit cards on stuff you need not stuff you want. 2nd you have to pay off the credit on time so you get better credit. So there is also no interest you would have to pay of the money you owe. 3rd dont use your credit card for everything, if you have money pay it with the money.
The Basic Of Credit
credit is when you borrow money but have to repay it with interest if you dont pay it in time. If you have good credit then you will get less interest on the money you owe. you get credit if you use a credit card or take out loans from the bank. How much credit someone gets is that if they have good or bad credit.