About Credit

By: Judah Ruiz

Basics of Credit

Credit is using the banks money to buy something now and pay it later with added interest. There can be multiple forms of credit and ways to build your credit score, such as getting a credit card, taking out personal loans or even just starting a bank account will put you on the radar for building credit. Some positives about having credit is that you can buy now and pay later, you can pay a little bit over time and not the whole amount at once, having a good credit score will allow you to buy a house. Some downsides to having credit is that sometimes if you're not good with your credit youll miss payments and it will bring down your credit score. The credit bureau determines your credit worthiness by making sure you make payments on time, you have a good credit score and other things.

Credit Cards: Need To Know

A credit card is a card issued by a bank allowing you to buy things with credit and pay it later with extra cost depending on your interest rate, but you can only have so much money on the credit card before you reach a credit limit. You can basically use a credit card anywhere but its advised that you dont use it for big things such as a student loan because your APR is way more on a credit card than a loan would be and you would end up paying so much more in the long run. A benifit about having a credit card is that you can buy things on the spot and pay it later. A bad thing about credit cars is that there are annual fees that you have to pay and if you are not responsible there can be penalty fees.

Shopping For Credit

Credit Card: Chase Slate

Annual Rate: 0

APR: 0 for first 15 months

Fees & Incentives: There are no rewars and no APR for first 15 moths

Credit Card: PNC Points

Annual Rate: 0

APR: 0 for first 12 months, 22.2% after 12 months

Fees & Incentives: No annual fee, first 12 months is 0 APR


Being a Smart Consumer

Not falling into major credit debt should be your main concern when spending with your credit card. You should be keeping track of all of your expenses and making sure that what you spend, you can pay back