Lesson 6. Obtaining and Protecting Your Credit. Learning Objectives. Explain the concept of consumer credit, including major types and its benefits and drawbacks Describe the keys to building and maintaining healthy credit Identify ways to protect your identity .
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Obtaining and Protecting Your Credit
the major types of credit
the advantages and disadvantages of each
the laws that protect your right to get credit
Credit for consumers fall into one of three categories:
Revolving open-end creditTypes of Credit
Equal Credit Opportunity Act
Fair Credit Reporting Act
Fair Isaac Corporation
Revolving open-end credit
SkimmingKey Terms and Vocabulary