Credit, Specifically Credit Cards.
by: Tanya Dominguez
section 1 - basics of credit
What are the forms of credit?
Loans, installment loans, and credit cards are all forms of credit.
What costs are associated with credit?
What determines if someone get credit and how much they get?
In order to get credit, you must demonstrate credit worthiness. Credit Worthiness is the ability to pay back a loan. Lenders judge this using the 3 C's: Example character, capacity, and capital. The credit bureau has a record of everyone over 18 and each person is given a credit report which includes credit information like your credit score.
section 2 - vocabulary watch
section 3 - credit cards: what you need to know
What is a credit card?
Where can you use a credit card?
What are the benefits of and costs of using a credit card?
section 4 - smart consumers: don't fall into the credit card trap
- Pay cash
- Don't miss payments
- Read what you sign
- Don't go over the limit
- Don't make late payments