Using Credit Wisely

By: Ben Pack

The difference between a credit card and debit card.

Debit card purchases deduct money from your current account - from funds that you already have available.

Credit cards run up an amount of money that you will owe in the future, a balance that you will be required to pay back at a later date.

Three ways you can develop good credit history.

1. Only borrow what you can afford.

2. Start with one credit card.

3. Make all your payments on time.

5 Different Financial Apps/Websites

Mint Quickview



Toshl Finance


3 Advantages and 3 disadvantages of using credit

Advantages: Building a credit line, Emergencies, and Protection of purchases.

Disadvantages: Blowing you budget, High interest rates, and Credit card fraud.

What is APR and why it is important?

APR: Annual Percentage Rate and it represents the total cost of credit, including fees, expressed as an annual rate.

It is important because it controls your credit.

APR changes the amount you pay for an item by.......

Adds interest which depends on what you buy can take you a long time.

When and where can you order a free credit report and why is it important?

When: Once a year for free.


It's important because you need to know your credit.

What to do if you are experiencing financial difficulties.

The first step is to contact your financial services provider and explain that you are experiencing financial difficulty. Most financial services providers have dedicated financial hardship teams. When you call them, ask to speak to someone in this team. It is important to have an open and frank discussion with your financial services provider.