Credit: What You Need to Know

By: Vahid Kopic

What Is Credit and, What are The Costs/Benefits of Having Credit?

Credit is the ability to pay for an item knowing that the payment will be take care of in the near future. A good thing about having credit is that you get the ability to pay for what you want and/or need in the moment. The downside of having credit is that you will be paying off as it piles up - the slower you pay this off, the worse it is for you.

What are some forms of credit, and what determines whether someone has good or bad credit score?

One of the many types of credit are loans. Loans are amounts of money that are borrowed and will be paid off with interest.

Some quick examples of credit scores.

Credit Cards

What is a Credit Card and, what are the benefits?

A credit card is a card holding your credits that you can use to pay for anything that they can be used on. The benefits of having a card that you have the power to pay for what you want, when you want. The downside of having on is that you are still able to have it stolen and used by the thief. if you happen to find out before they can spend any money you can freeze the account.

Where can you use the credit cards?

You can use credit cards where they are applicable whether it be, online, at a super market, at a gas station, or even your phone.

Shopping for a credit card

Card #1 uCard #2

Name of Card

TD Cash Visa® Credit Card L Card Preferred


Credit Cards

Credit Cards

Annual Fee

(if any)



Annual % Rate (APR)

13.24% - 23.24%


Grace Period

21 days


Other Fees:

*Late Payment

*Returned Check

*Balance Transfer

*Cash Advance

Balance Transfer Fee is a minimum of 10$ per transfer. The least you can transfer is $250.

No over the limit fees

Don’t pay extra on interests by paying your monthly fee on time.

Benefits/Special Features/Rewards/Services

0% APR introductory fee.

No security deposit required.

How to be a safe shopper with credit cards.

When you are shopping try not to use you credit card for everything. Sure you can use it at a super market, or fast food restaurant - you should avoid using your card in gas stations, or bars, or even online. Some online sites can lead to identity theft, in which case you would be using money while not even knowing, you could even get charged multiple times without even knowing until you got your report.