Credit Newsletter

Jose Quinones

What is Credit?

  • What is credit?

Credit is the ability to borrow money in return pay it back.

  • Other forms of credit?

There are two forms on personal loans and credit cards. This will help build up your credit score.

  • Cost of credit?

It depends on how much the lender let you borrow. On how much you borrow you would have to pay interest as you pay the credit off.

  • How can I get credit?

The credit bureau determines if on your credit report on how much credit you can get. They look at your records to see if your creditworthiness and if you have the ability to pay back the lenders.

Vocabulary Watch

Interest- Extra money paid when you don't pay your credit on time.

Credit score- Determines on how you pay you bills. The higher the score the better.

  • Higher credit score you pay bills on time, limited number of credit card, have a long history of credit.

Credit report- It includes all the history of credit on where,when,what the credit was for.

Credit Cards

What is a Credit Card?

  • A card giving to you by the bank so you can build up your credit score.
  • also it gives you cash back, points to buy things you want.
  • There are a couple fees with the credit card like the annual fee.
  • Annual fee- required amount to pay back money
  • You get APR (Annual percentage rate) if you pay the interest when its due

Where can i use a Credit Card?

  • A credit card can be use almost any where a credit card can be used.
  • But be careful you can go over the limit and get charged with Over the limit fees.

Cost and benefits of Credit Card

  • With a credit card you get a Credit limit on how much you spend for a month.
  • If you pass over the limit you will get penalty fees.

Don't Fall Into The Credit Card Debt.

The best tips for the Credit Card.

  • consider a loan before using a credit card.
  • pay the credit card balance full
  • Choose the less expensive card but with good benefits.
  • As well be careful what you sign
  • avoid getting too many credit card.
  • pay cash
  • Get therapy if your in bankruptcy