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.
Name 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
Banks
Installment Sales Credit
Lease
Rent to Own
Pay day services -- pay cheque cash advance services
The Cost of Credit
Define each of these terms
Principal:
Term:
Interest Rate:
Interest:
Security or Collateral:
Risk & Credit 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