by Yanni Grande
Basics of Credit
1) Character, are you trustworthy
2) Capacity, do you make enough money
3) Credit worthiness what’s your history
4) Collateral - what you have of a value if you can’t pay back
You can check you credit score once a year for free from a government official web sight.
Failure to pay your credit rates on time will increase you interest rate (APR) meaning you will pay more than you originally payed for.
Credit Score: A number based on your credit report
Credit Cards: Used to make purchases if you do not have cash at hand.