The Basics of Credit

● What is credit? The ability to obtain goods or services before payment based on the trust that payment will be made in the future
● What are the forms of credit?Theirs loans that your credit score has to be checked to so they can loan you money
Theirs where you can borrow money their lenders and you promise to pay back the same amount you borrowed at a specific time or their will be interest will be charged
there's a credit when you borrow money you have to pay them back in one month if you don't pay after the month Credit bureau lowers from your other personal things you want to take out like a car
● What costs are associated with credit? will be charged interest your credit report will lower when you try to get cars or boats etc... they shouldn't be costs so you can have their personal loans
● What determines if someone gets credit and how much they get? the four Cs
character
creditworthiness
collateral
capacity
does are all the main things to be given a credit card besides checking your credit report
● What is a credit card? A credit card, money you have to pay off after wasting with Annual Fees not all credit cards have annual fees
● Where can you use credit cards? you can use them in places you want to buy things but there's always credit limit so you won't over us and you will have enough for what you need.
● What are the benefits and costs of using credit cards?The benefits of using a credit card are you don’t have to have change in your hand faster to buy