What is Credit?What is Credit?
The ability to
Giving up
Who’s Who in Credit?Who’s Who in Credit?
Borrower-
Person taking cash, merchandise, etc.
Lender-
Item being given on credit
Think About it!!Think About it!!
Who wants to buy things?Who wants to be in debt?
Why Use Credit?Why Use Credit?
Is Credit Good for the Economy?
Is Credit Good for the Economy?
Advantages of CreditAdvantages of Credit
Disadvantages of CreditDisadvantages of Credit
3 Types of Credit 3 Types of Credit
Single Payment
Installment
Revolving
Single-PaymentSingle-Payment
Installment PaymentsInstallment Payments
Revolving CreditRevolving Credit
Complete the Worksheet
How do you get Credit?How do you get Credit?
Character
Capital
Capacity
CharacterCharacter
CapitalCapital
The following can secure a
loan:
How do I use the 3 C’s?How do I use the 3 C’s?
Credit HistoryCredit History
How do they Collect Info?How do they Collect Info?
Keep cumulative records
When trying to give credit out
The Three AgenciesThe Three Agencies
1-800-685-1111
1-888-397-3742
1-800-888-4213
Keeping Good CreditKeeping Good Credit
BankruptcyBankruptcyWhat is it?
Why use it?
Your Rights as a BorrowerYour Rights as a Borrower
Fair Credit Billing Act
Equal Opportunity Act
Truth & Lending Act
Fair Credit Billing ActFair Credit Billing Act
Truth in Lending ActTruth in Lending Act
Costsconditions
Equal Opportunity ActEqual Opportunity ActCan’t discriminate giving
credit based on:
What if You’re Denied?What if You’re Denied?
Credit ProtectionCredit Protection
Unauthorized ChargesUnauthorized Charges
Report your card lost or stolen right away!
$
What is Identity Theft?What is Identity Theft?
What can we do about ID Theft?What can we do about ID Theft?
Don’t:
Do: