Local News Update

Basics

● What is credit? Its a lender that lets your barrow money

● What are the forms of credit? credit cards and personal loans

● What costs are associated with credit? Interest

● What determines if someone gets credit and how much they get? their credit score which they get from the credit bureau

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Vocab Watch

when you first start you might get a small credit limit

a lender lets you borrow money

you might get a small capacity

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Credit Cards

● What is a credit card? a loan you pay interest in

● Where can you use credit cards? anywhere but if you have a credit limit

● What are the benefits and costs of using credit cards? APR Penalty fess and over the limit fees

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Tips

  • Don't go over your limit
  • pay at the end of each month
  • Don't just pay the minimum
  • Don't over use it
  • Use it for emergency only
  • Don't spend money you don't have