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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:

Credit study notes


  • 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 __________________.