Credit Newsletter

The basics of credit.

Basics of credit.

What is credit?

-Credit makes buying things easy & convenient.

What are the forms of credit?

-Bank, commerce, consumer, investment, international, public, lender, personal loans, & real estate.

What costs are associated with credit?

-Includes interest, arrangement fees, & any other charges.

What determines if someone gets credit & how much they get?

-Credit report will determine both; credit score, & how much they can get.

Credit Cards: What you need to know.

What is a credit card?

-A piece of plastic given to you by a bank, to buy things. Makes buying things easy.

Where can you use credit cards?

-Anywhere they are accepted.

What are the benefits and costs of using credit cards?

-Sometimes you can get rewards for using it. The costs are rates, APR, and annual fees, over-the-limit fee, penalty fees.

Smart Consumers: Don't fall into the credit card trap!

Some useful tips to stay safe while using credit cards: Always sign your card, never share your personal info, make payments on time, don't max out your cards.