Credit Newsletter

Joel Nicasio

Basics of Credit

Credit is the total amount of money in a credit card that the bank lets you borrow. There is credit Score ,it is a number that starts from 300 and goes up to 800 the higher the number the better your credit is. Credit Bureau is an agency that collects all data. when you are to get a loan the bank checks your credit report to stimate how much money they will lend you. and also they would charge you( Apr) interest.

Credit Cards

A credit card is a plastic square that you pay with. you get it from your bank. you can use the credit card anywere were they accept credit cards. but you have a credit limit on spending if you go over your limit that your suppose to waste there is a over the limit fee and also there is a penalty fee. when you get your money lent the bank borrows you it in return of an interest rate they charge you for the money lent. each year you have your credit card there is an Annual fee for your credit card

Don’t Fall Into the Credit Card Trap

Once you turn 18 years credit card applications will start coming to you like crazy. Do not fall for it this messes up your credit score when you apply for a lot or another way when you go to a place and there is a stand to apply for a credit card and in return you get a shirt don't do that . get a card from your local bank and apply there to start building your credit