What is credit
● What is credit? The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made to the lender. Also known as CreditWorthiness
● What are the forms of credit? School loans, Car loans, House loans, Credit Cards Personal Loans
● What costs are associated with credit? your are charged with interest if you do not make the full payment when your bill comes resulting in credit score to suffer.
● What determines if someone gets credit and how much they get? When you Credit report is given by the credit bureau your payment history is included and if you have good credit you are eligible for a credit card or a personal loan. The better your history is the more your limit is.
What you need to know about credit cards
Don’t Fall Into the Credit Card Trap
A way to stay free of bad credit and credit debts is by not purchasing something that you will not be able to afford to pay when your bill comes around. You could purchase something on your credit card and put the money you have aside and have it ready to pay when you bill comes. That way you can pay your payment in full to build your credit raise your limit on your card and stay out of debt. BE CAREFULL WHEN APPLYING FOR CREDIT CARDS KNOW ALL ITS INFORMATION ESPECIALLY THE APR.