CREDIT NEWSLETTER/ CE

BY JAPRI PERRY

Section 1 THE BASICS OF CREDIT

Hi, im Japri! I will be walking you though the basics of credit. I will explain what credit is, what forms it comes it, the costs associated with credit and qualifications of credit.

WHAT YOU NEED TO KNOW ABOUT CREDIT CARDS

In this section, I will discuss the basics of Credit Cards and how to be a Smart Consumer(Dont fall for the credit card Trap)

what is a credit card?

A credit card is plastic card that lets you access the credit limit your credit card issuer gives you. A credit limit is like a loan. However, instead of giving you the full loan in cash, the bank lets you take a much of the credit as you want at a time.


Where can you use credit cards?

Credit Cards Can be used at local stores, online, banks, currency exchanges department stores and gas stations.

what are the benefits and costs of using credit cards?

Advantages Disadvantages

  • Purchase protection Deepening your debt
  • Instant cash Unexpected fees
  • Build positive credit High-cost fees
  • Instant cash
  • Convenience

SMART CONSUMERS: Don't Fall Into the Credit Trap


    • 1.
    • Don’t give your account number over the phone unless you’ve initiated the call. If you’ve dialed a wrong number, don’t give it out at all.

    • 2.
    • Get a card that has added security features, like a photo ID. Your mom will be so proud.

    • 3.
    • Never write your account number or PIN on the outside of an envelope or postcard. Grandma doesn’t need to know your PIN.

    • 4.
    • Draw a line through blank spaces on charge slips above the total to prevent any changes. You want to tip well, but not that well.

    • 5.
    • Don’t sign a blank charge slip unless absolutely necessary, and only if it’s in an actual store. Never sign a slip handed to you by Dave from down the hall.

    • 6.
    • Save receipts. Pretend they’re old concert tickets.

    • 7.
    • Always check receipts against your monthly statements. If anything looks fishy, report it within 60 days of the statement’s mailing date. Unless you actually bought fish with your card, in which case, don’t report it.

    • 8.
    • Make a list of card numbers, expiration dates, and the toll-free numbers of your credit card companies. Keep this record in a safe place, separate from where you keep your cards. Use this information if you ever have to report your cards lost or stolen.

    • 9.
    • Carry only the cards you need, especially when traveling. To clarify: you may need 1 or 2 cards. You will not need 6.

    • 10.
    • Never lend your card to anyone, and don’t leave cards or receipts lying around your room, no matter where you live. We know, we know, Omega House is the safest house on campus.

Webcam video from January 14, 2014 8:35 PM