Credit News Letter
By; Yassmin Gomez
The 3 C's in Credit
Character , Capacity & Capital
They usually judge by using 3 factor the 3 C's .
Capacity ; financial ability to pay off
Character ; is a value on what you own , so if you have property or not .
- To get credit you must show your creditworthiness.
- You must show you can keep word and pay back a loan
- Your credit score must be in between 300 - 850 , the higher the better .
- Your credit history is also important for when you apply , its provided by credit bureaus .
Important Key Words
Credit Limit ; make you don't spend too much or else you going to have to pay .
Penalty Fees ; make sure you pay on time
- You should start using them in stores , start small it would be easier to get approved.
- There is annual fee's from $15-$100
- There is interest 0% to 29%
- If payed on time, no interest
- The is credit limits which you can only spend a max amount on the card if you pass it you get a fee .
Safety ways while using a credit card
- Avoid too many credit cards , avoid identity theft
beware of bankruptcy .