What is Credit? ... Creditor is ... Debtor is ... Another name for the lender is ________________ . The person that receives the credit promises to ______________ the money back within a given _____________ period plus _____________ . Is Credit good or bad? Good 1 2 3 Bad: 1 2 3 Consumer Credit How is "consumer credit" different from "credit"? ... Advantages of Consumer Credit: 1. 2. 3. Disadvantages of Consumer Credit: 1. 2. 3. Types of Credit: Credit Card and LoansCredit CardsName the three major Credit Card Companies 1. 2. 3. Other types of Credit Cards -- name two of each type 1. Travel & Entertainment Cards 2. Retailer Credit Cards Does it cost a business to accept credit cards as a form of payment? If so, how much? Why do business accept credit cards as payment? 1 2 3 Some pit falls that of all credit cards: Explain each and state why it may (will) cause problems - Minimum payments on credit cards
- Using credit cards to pay other credit cards
- cash advances on credit cards
- introductory interest rates
LoansBanks Installment Sales Credit Lease Rent to Own Pay day services -- pay cheque cash advance services The Cost of CreditDefine each of these terms Principal: Term: Interest Rate: Interest: Security or Collateral: Risk & Credit Rating: Credit WorthinessCredit Rating What can you to start to build a (good) Credit History: 1 2 3 4
The Three C's of Credit are simply: Character, Capacity, and Collateral all considered together with a heavy dose of common sense. Explain each of the 3C's Character: Capacity: Collateral Credit Crisis: How do you know that you are in a credit crisis
1
2
3
4
Getting out of Debt
The steps towards getting out of debt include
1
2
3
4
|