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
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
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
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