Jeanette Treto Consumers Ed Period 2
What are the forms of credit? Low limit, prepaid, student
What costs are associated with credit? Its associated with the Credit Bureau which collects all the information of your credit ratings.
What determines if someone gets credit and how much they get?
Character: They have to get to know you
Capacity: How much you use it
Creditworthiness: How likely you are you give the money back.
collateral: Security for repayment of a loan
Credit- Receiving goods and services before making payment
Credit Card- A card used to make payments for goods and services but you pay the money back after
Credit Score- The calculation based on the information of your credit
Where can you use a credit card? You can use it at any place as long as they accept credit cards.
What are the benefits and costs for using a credit card? The APR can give you money to borrow for a year.
Never share your passwords on your credit
Don't max out
Only use it for necessities
Always pay on time
Sign your card
Don’t share information
Use a secure browser
Pay more than minimum balance
Keep track on what you charge