Section 1

● What is credit? Makes buying big purchases possible, but have to pay it off

● What are the forms of credit? Home Loans, car loans, student loans, personal loan, low-limit credit cards, prepaid credit card, student credit card,

● What costs are associated with credit?

Charge Fees, Annual Fees, Monthly Fees, Paying Bills,

● What determines if someone gets credit and how much they get? The four C’s
Character - Are you trustworthy
Capacity - Are you able to pay them back
Creditworthiness - What's your history, are you trust worthy
Collateral - What do you have of value

Vocabulary Watch

Section 2

Credit Report - Is a number based on your credit report

Credit Score - May get one free credit report every year , these are some sites that you can use to get a free report,(alerts.equifax,,)

Interest ( A.P.R.) - yearly cost for the money that you borrow

Credit Cards

Section 3

● What is a credit card? A plastic card issued by a bank, business, etc., for the purchase of goods or services on credit.
● Where can you use credit cards? With credit cards you can buy things withdraw money from and ATM and make balance transfers. Different rates of interest may apply to these different types of transactions. To save money and pay off your balance sooner, its worth paying as much as you can in addition to the minimum payment.

● What are the benefits and costs of using credit cards? The benefits of using the credit card is it helps you with money in times of need, to buy any necessary items that you can't afford at that specific moment.


Safe Spending

Only buy things you can afford to pay off
put see I.D.
Sign as soon as you get it
secure browser
pay more than the minimum balance
don't max out your credit card
keep track of what you charge
pay on time