Credit project by briana phillips https://padlet.com/phillipsbr3/h6m8bivoklc2 Credit Is important because it's just a way to see how you can keep up with yourself, If you can actually handle the real world responsibility en-us 2018-02-22 15:22:56 UTC 2018-04-24 12:59:07 UTC hello@padlet.com Types of credit phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/234275111 Trade credit- Company receives goods from a supplier and pays later

 loan credit- Borrow money to use for something special 

Installments-  Borrowers agrees to repay loans same amount

Sales credit-  Using cards to make purchases 



]]> 2018-02-22 15:28:25 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/234275111 Credit cards phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235308970 Bank cards-  Banks take liability and expense of granting  credit (Mastercard and Visa)

Travel and entertainment - Used for business travelers' expenses (AMEX)

Oil companies or affinity cards-  Company, sports teams, or charity  gets a small percentage of sale for using name.

Retail store cards-  Can only be used for issuing store. ]]> 2018-02-26 12:37:37 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235308970 phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235316870 2018-02-26 13:02:48 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235316870 loans phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235317570 - Installment loans are monthly payments in specific amounts over time.
- Single payment loans don't pay anything until the end of the loan period.
- Promissory note is a written promise to repay based on.]]> 2018-02-26 13:04:47 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235317570 3 C's of credit phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235850555 Character- Pay bills on time do you pay your bills on time

Capacity-  Ability to pay debt when its due Are you able to make a payment

capital- Value of the borrower's possessions do you still have to pay something off ]]> 2018-02-27 13:39:29 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235850555 Pros & cons of credit phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235857264                     PROS
- Convenience makes it easy to buy without carrying cash
- Immediate possessions allows you to have the item now
- Credit rating
                    CONS
- Getting a lot of things you cannot afford
-  Careless buying
- Higher prices ]]> 2018-02-27 13:50:25 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/235857264 Ways you can establish credit phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236403071 -  Practice with grades and attendance
- keep a balance in checking and saving account
- Make purchases with card ( avoid interest charges)]]> 2018-02-28 14:30:50 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236403071 Credit bureau phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236414606 - Gathers info on credit users
sell information to businesses offering credit like banks, finance  companies etc
                       TEE
- Transunion, Equifax  &  Experian ]]> 2018-02-28 14:42:05 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236414606 Info on credit reports phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236426344 - Personal information
- Public records
- Adverse accounts 

]]> 2018-02-28 14:56:45 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236426344 FICO score phillipsbr3 https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236966639 Amounts owed- 30% How much you owe on each account, how much credit limit you used
Payment history- 35% Have you paid your bills on time? the timing
Types of credit- 10%  what type of debt you have?
New credit- 10% How many new accounts you had?
credit history 19% How long have you had each account?]]> 2018-03-01 15:32:43 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/236966639 How can someone maintain a good score https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/237248222 - Pay your bills on time
- Don't open extra accounts
- Keep balance low
It impact the interests rates
-If you have a high credit score you'll have lower interest rate having a low interest rate is beneficial it gives you more money

-If you have a low credit score it'll  give you the opposite of having a high credit score ]]> 2018-03-02 01:20:51 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/237248222 Credit fraud and how to avoid it https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/237251119 -Is when your credit card gets into the wrong hands and something has gone wrong  check your account frequently  for errors.  keep credit card safe, shred anything with your credit card number on it, don' t sign blank credit card receipts ]]> 2018-03-02 01:37:45 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/237251119 Current events involving consumer credit https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/237253932 Wells fargo's scandal damaged peoples credit score they opened a lot of bank and credit card accounts customers did not need or wanted affected a lot of their customers credit scores
https://www.washingtonpost.com/business/economy/in-wake-of-wells-fargo-scandal-whats-to-be-done-about-damaged-credit-scores/2017/08/18/f26d30e6-7c78-11e7-9d08-b79f191668ed_story.html?utm_term=.1c2577b94f00]]> 2018-03-02 01:54:25 UTC https://padlet.com/phillipsbr3/h6m8bivoklc2/wish/237253932