USING CREDIT WISELY

THE DO'S AND DON'TS OF CREDIT

CREDIT VS. DEBIT

DEBIT IS MAKING PURCHASE OR PAYMENTS USING MONEY FORM YOUR FUNDS AVAILABLE IN YOUR CURRENT ACCOUNT. WHILE CREDIT IS USING MONEY THAT THE BANK OR ANOTHER PROVIDER HAS AND THAT YOU MUST PAYBACK WITH INTEREST OVER TIME.

ADVANTAGES AND DISADVANTAGES OF CREDIT

ADVANTAGES

  1. CONVENIENCE- BEING ABLE TO BUY LARGE ITEMS WHEN NECESSARY
  2. RECORD KEEPING- CREDIT REPORTS HELP KEEP TRACK OF EXPENSES
  3. BUILD POSITIVE CREDIT- BY USING CREDIT PROPERLY

DISADVANTAGES

  1. OVERUSE- USING TOO MUCH CREDIT
  2. PAPERWORK- NEEDING TO KEEP RECEIPTS
  3. HOMEWORK- YOU NEED TO KEEP TRACK TO MAKE SURE THERE IS NO ERRORS

APR (ANNUAL PERCENTAGE RATE)

APR IS A NUMERIC SHOWING OF A INTEREST RATE. IT IS IMPORTANT WHEN APPLYING BECAUSE IT CAN SHOW YOU HOW EXPENSIVE PURCHASES CAN BE BETWEEN DIFFERENT CARDS.

CREDIT REPORT INFORMATION

YOU CAN ACCESS ONE FREE CREDIT REPORT FROM ANY OF THE 3 NATIONAL CREDIT ORGANIZATIONS EVERY YEAR. THIS IS IMPORTANT BECAUSE YOU ARE ABLE TO SEE AND CONFIRM THE PURCHASES YOU MAKE. IF YOU FIND AN ERROR YOU CAN CONTACT THESE RESPECTIVE COMPANIES ABOUT IT.

IF YOU NEED FREE CREDIT COUNSELING CONTACT; APPRISEN

4500 E BROAD STREET COLUMBUS, OH 43213(614) 552-2222