Credit News Letter

By; Yassmin Gomez


Credit is the ability to borrow money and in return for a promise of future payment .

You can get student loans , credit cards , loans , house a car , etc.

The 3 C's in Credit

Character , Capacity & Capital

They usually judge by using 3 factor the 3 C's .

Character ; sense of financial responsibility

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

APR ; Purchase annual percentage rate

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

Credit Cards

Credit Cards are card issued by a band , business for the purchase goods or service on credit .

  • 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 .

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Safety ways while using a credit card

  • Avoid too many credit cards , avoid identity theft

    beware of bankruptcy .