Tori Villacci


  • What is credit? The ability too borrow money s long as you promise too pay it back within a certaint time frame.
  • What are the forms of credit? credit card, Loans, credit.
  • What costs are associated with credit? You must pay interest. This rate depends on the provider of your credit card.
  • What determines if someone gets credit and how much? You need too demonstrate credit worthiness, by showing your reliability to pay a bank loan. and by showing good characte, capacity, and capital (The 3 Cs)

Important words too know:

  1. Credit: The ability too borrow money if you promise too pay it back.
  2. Credit score: used to determine how reliable you are on making payments and things. It is used too determine if you can buy a car, a house, take out a loan, etc.
  3. Credit Bureau: A company that collects the credit ratings of individuals and makes them available to credit card companies, financial institutions, etc.
  4. Credit report: Tells you how well you are doing with your credit
  5. Creditworthiness: How reliable you are at paying loans and paying your credit card bills etc.
  6. Interest: The amount that is added based on how much money you borrow.
  7. Lender: Who ever you are borrrowing the money from (the provider of the credit card)
  8. Credit Card: A card that you use in order too make purchases without actually having the money with you in hand.
  9. Personal loans:A loan that establishes consumer credit that is granted for personal use.

Important words!!

Credit score:

Used too determine you credit worthiness and whether or not you are reliable for paying back loans.

Credit Limit:

The max amount of money you are allowed to borrow for your credit card.

Penalty Fees:

The fees you get for being late, over or not paying in full.


What is a credit card? Its a plastic card that you can use in order too make payments for things when you do not have money on you or if you just want too use it. You must repay all money that you use however.

Where can you use the credit card? You can use a credit card almost anywhere. You can use it to buy a house, a car, or shop online, etc.

The benifits and costs f using credit cards? the benifits are that you get too buy things that you want even when you dont have money. Some costs are that you have too make late payments if you do not pay on time or if you dont pay the full amount. Also there is a yearly interest. You have too pay interest on the money you borrow

Some more words too know

  1. Annual fees: the fees that you have too pay on interest for your credit card.
  2. Credit Limit: The limit of money that you can borrow on your credit card.
  3. Interest Rate: The amount of interest that you have to pay for your credit card.
  4. Penalty fees: The fees you get for paying late or for not paying in full or going over your credit limit
  5. Over-The-Limit: If you go over your credit limit you get a fee that depends on how much you go over.

Section 4:

In order too be safe with a credit card and make sure you dont put yourself in debt, or mess up your credit card limit, you need too make sure that you only buying things that you need and not just using it freely at anytime. You need too make sure you keep track of what you are spending and that you are not going over your limit of money you can borrow. Also dont be late on paying your bill and dont just pay the bare minimum if possible. One last thing you should do is too Make sure that you Dont sign up for a bunch of credit cards because it messes up your credit