Everything you need to know about credit.

Credit Basics

What is credit?

A way to make big purchases, but you have to pay it back.

What are the forms of credit?

Home loans, student loans, personal loans, and car loans.

What determines if someone gets credit and how much they get?

The 4 C's

Character, Collateral, Credit Worthiness, Capacity

What costs are associated with credit?

Many fees come with credit cards. Some are monthly, others are annual. Violating your agreement, will always result in having to paying fees.

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Credit Vocab

Checking your credit is critical. Use online resources to get your credit score and your credit report.

When buying a credit card, be careful and cautious. APR rates can change, and leave you in debt, causing you to use personal loans, and even more debt. Going over your credit limit can result in over-the-limit fees, penalties, and other charges.

Credit Benefits

Credit cards are accepted nearly everywhere, and allow you to make big purchases without having to use cash. If you pay your bills on time, credit cards can be vital to living a good lifestyle.

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Beware of Credit

When using online banking, make sure to always use a secure browser, keep information safe, don’t share personal info, and only use credit for necessities.

Also, make sure to sign your card. Don't max out, always pay on time, and always keep track of purchases you make.