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Credit Study Notes. By: Your Name. Debit Card. Credit Card. A promise to: Buy Now, Pay: Charges: Mastercard or:. Charge Card. A good example of a Charge card is: After grace period, you must pay:. Grace Period. Usually ranges about: If you pay within this time, NO:. APR.

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credit study notes

Credit Study Notes

By: Your Name

credit card
Credit Card
  • A promise to:
  • Buy Now, Pay:
  • Charges:
  • Mastercard or:
charge card
Charge Card
  • A good example of a Charge card is:
  • After grace period, you must pay:
grace period
Grace Period
  • Usually ranges about:
  • If you pay within this time, NO:
  • When searching for a credit card or loan a person wants a_______rate.
minimum payment
Minimum Payment
  • Paying Min does not _______your credit score.
  • It will, however, _________the time you have to pay if you do this repeatedly.
large purchases
Large Purchases
  • Large purchases that require a person to buy on credit would be:
    • Example 1)
    • Example 2)
  • The better your credit is, the _________the interest rate you will receive.
credit score
Credit Score
  • The reporting bureaus make money from sharing these numbers with lenders, banks, creditors, etc. The way a FICO highest credit score is broken down is simple. Thirty five percent is attributed to having a record of paying bills on time, thirty percent for total balance on credit cards and other loans compared to total credit limit, 15% for length of history, 10% for new accounts or recent applications for financing, and 10% mix of credit cards and loans. The highest credit scores will result in an individual having a lower balance to limit ratio and a balance of revolving accounts with installment loan accounts.
credit character capacity
  • Have you paid your bills in the ____________.
  • Have you paid your bills on___________>
  • Have you had a steady__________with steady income.
  • How much __________do you have to pay the bill when it comes in.
avoid these things
Avoid these things!!!
  • Applying for __________loans at once.
  • Making the _________payment every month.
  • Charging ________things on your card.
  • Throwing out statements and offers with ____________information on them.
names you should know
Names You Should Know
  • Expe____________
  • Equi____________
  • Trans___________ are the 3 credit reporting bureaus that can provide you w/your credit report.
  • The FTC stands for the __________________.