Section 1

Basic of credit

● What is credit?

Means you should have good credit so you can get a car house.


● What are the forms of credit?

loan & credit card.

● What costs are associated with credit? house, car,


● What determines if someone gets credit and how much they get? on how much money you get how much debit you have basically.

Vocabuary

  • When you have good Credit you are able to make loans.

  • Is what you pay to get Credit Score so you are able to make loans.

  • Credit Bureau is all all the records of consumers transactions.

  • A consumer Credit Report has all the information and credit score.

  • When a consumers bureau checks the Creditworthiness of their credit.

  • The consumer has to have high Interest for good credit.

  • Some lenders will only lend up to ten times the annual rental income.

  • You must have the all the balances to pay to use your Credit Cards.

  • When you make Personal Loans you eventually have to pay back.