Information you NEED to know

The Basics of Credit

  • Credit gives you the chance to borrow money in return for a payment in the future
  • The cost associated with credit is interest
  • Reliability to pay personal loans demostrated your credit worthiness
  • The higher credit score you have, the better
  • The bank bureau has record of your financial history, you cant hide
  • You need a good credit report which is required by a lender in order too apply for credit once a year for free
  • The two forms of credit are credit cards and personal loans
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Credit Cars: What you need to know

  • a credit card allows you to receive cash back, points and airline miles
  • the annual fee for a credit card is $15-$100
  • the credit limit is the max amount of money you can spend,if you go over the limit you will receive a over-the-limit-fee which is about $30
  • the interest rate is 0%-29%
  • you can use a credit card everywhere
  • penalty fees are paid when you make a late payment or over are the credit limit
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Smart Comsumers

Ways you can stay safe..

  • pay on time
  • dont overuse credit
  • dont fall into heavy debt
  • choose card wisely