https://padlet.com/jake_maybee/shfluysumzsd By: Jake Maybee and Gary Dyster en-us 2016-11-28 01:35:16 UTC 2026-02-19 20:24:18 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140070364 Currently you are reading the page on just a few facts on the advantages and disadvantages of credit. Most of us use credit cards and loans all the time but are we all using them wisely? This page will give you a run through all of the common advantages and disadvantages of using credit.]]> 2016-11-28 01:39:00 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140070364 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140071257 This guy gives a basic rundown of how someone can have a good credit score. He tells us that having student loans and credit cards at the same time can be a good thing to have. Although you have to pay them on time, if not, you will end up with a bad credit score. To determine your credit score, it revolves on how responsible you are. The more responsible, the better the credit score. There are advantages and disadvantages to this all together but it all determines on your responsibility.]]> 2016-11-28 01:50:47 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140071257 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140072011 Credit cards allow you to spend the money that you currently don't have at the moment and can pay back later on. It's an easy way to pay for anything like emergencies that happen right away. It's easy to be able to pay them later off if you have the funds to do so. If not, there is only a minimum balance that you have to pay at each month. It helps out people who do need something the money at the time without taking it directly from their pocket.]]> 2016-11-28 02:01:09 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140072011 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140072390 The problem with most credit cards is that it can get a hold of you. What is meant by that is that people can over-spend on what they actually need. They can just buy and buy and eventually they are left with a huge bill at the end. Another thing is not being able to pay those minimum payments and your interest rate goes up while your credit score goes down.]]> 2016-11-28 02:05:18 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140072390 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140077080 This website is a Canadian Government website that states information about your credit score. Although they show statistics of how good of a score you can have, doesn't change the fact that you can still be in debt by credit. Sometimes the more credit you have, the more you'll spend. But could be an advantage for an emergency expense]]> 2016-11-28 03:08:39 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140077080 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140078013 This website helps explain the advantages and disadvantages of credit cards. They go on about some little tips and what not about different offers that a credit card provides. For example, it provides information and tips about emergencies. It shows that if you have a good credit score, you have more money to borrow in case of an emergency. Keeping in mind not to spend outside of your budget, the credit card provides those "at the moment" purchases.]]> 2016-11-28 03:19:30 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140078013 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140078450 This website provides some keys points about the disadvantages of credit cards. The big one it warns you about is overuse like every other site will tell you. Basically it is keeping a budget and not going over your limit so your not having a bad credit score. Most times they recommend that you only use 10%-30% of your limit to keep a good score. Plus there is interest for higher credit used.]]> 2016-11-28 03:25:17 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140078450 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140079387 This is a small statistic chart that I found over google. What I find interesting about this is that some students will not know the advantages and disadvantages of credit, as per the 16% who said "Don't Know".]]> 2016-11-28 03:38:21 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140079387 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140079875 This shows different Mast Cards by showing that it is actually a bad thing to have multiple credit cards. This actually lowers your credit score]]> 2016-11-28 03:44:11 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140079875 jake_maybee https://padlet.com/jake_maybee/shfluysumzsd/wish/140080215 This shows the grading of each credit score. Having a low score from late fees and irresponsibility, can be a disadvantage to not being able to have a good credit limit or be able to be apart of the advantages of having a credit card.]]> 2016-11-28 03:47:33 UTC https://padlet.com/jake_maybee/shfluysumzsd/wish/140080215