1 / 12

Credit: Benefits & Pitfalls

Credit: Benefits & Pitfalls. Responsibility Low interest on large purchases Ease. Incur debt Prevent future purchases Damage your credit. Using Credit. Pay on time! Stay below your credit limit. Pay more than the minimum. Stick with one card. Read the fine print.

caldwell-douglas
Download Presentation

Credit: Benefits & Pitfalls

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Credit: Benefits & Pitfalls • Responsibility • Low interest on large purchases • Ease • Incur debt • Prevent future purchases • Damage your credit

  2. Using Credit • Pay on time! • Stay below your credit limit. • Pay more than the minimum. • Stick with one card. • Read the fine print. • Avoid unnecessary fees. • Avoid unnecessary purchases.

  3. Remember! Character Capacity Capital Collateral

  4. Credit Report—Credit Score 710 • Positive and negative info. • History begins as soon as you start to incur debt. • Credit score is a number that summarizes your credit worthiness. • High = good. • Low = bad. 820 620

  5. Credit Report—Credit Score Pulling your own credit report WILL NOT hurt your credit score.

  6. 3 Credit Bureaus Experian: www.experian.com Equifax: www.equifax.com TransUnion: www.transunion.com Annual Free Report: www.annualcreditreport.com

  7. Bad Credit Hurts • Higher interest or denial of loans. • Higher insurance rates. • Ability to hold or apply for job.

  8. Rebuild Your Credit • Pay off debt. • Review your credit report. • Report incorrect information. • Seek help.

  9. Identity Theft • Protect personal information. • Be aware of your surroundings. • Destroy information. • Monitor bills and reports. • Report theft.

  10. Parting Words If you think nobody cares if you're alive, try missing a couple of car payments. —Earl Wilson

More Related