Credit Basics

Credit Newsletter Project

What Credit Is

Credit has many different uses and can be a great way to fast money and just swipe a card and be on your way. One of the negatives about using credit is the fees such as APR or annual fee, monthly fees

What Are The Forms Of Credit

In Credit you can receive Loans which is money borrowed from the bank, so the bank charges interest on that loan you took out. Secured Loans are guaranteed by collateral which is item of grater or equal value than the amount of the loan like a car or even a house. One other type of credit is a Unsecured loan which is a loan with no collateral but is based on your credit score and ability to repay

Credit Vocabulary

You can use Credit Cards almost any where you go, but it should really only be used in emergency situations if you can pay with Cash

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