Manage Credit Cards Avoid Fees

Chapter Six Credit Use and Credit Cards

Learning Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object]

What is Credit? ,[object Object],[object Object]

Why People Use Credit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Downside of Credit Usage ,[object Object],[object Object],[object Object],[object Object],Over 1.5 million bankruptcies filed per year recently!

Interest is Costly! ,[object Object],[object Object],[object Object],[object Object]

The Credit Approval Process: Applying for Credit ,[object Object],[object Object],[object Object],[object Object],[object Object]

The Credit Approval Process: The Credit Investigation (continued) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The Credit Approval Process: The Application Decision ,[object Object],[object Object],[object Object]

Building a Credit History ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Managing Your Credit Bureau File ,[object Object],Question: Who is an approved user?

Managing Your Credit Bureau File (Continued) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Types of Consumer Credit ,[object Object],[object Object],[object Object]

Types of Consumer Credit and (continued) ,[object Object],[object Object]

Credit Card Accounts ,[object Object],[object Object],[object Object]

Bank Credit Cards ,[object Object],[object Object],[object Object]

Bank Credit Cards (Continued) ,[object Object],[object Object],[object Object]

Secured Credit Cards ,[object Object],Example: Deposit $1,000 with creditor to borrow $1,000

Retail Credit Card Accounts ,[object Object],[object Object],[object Object]

Travel and Entertainment Cards ,[object Object],[object Object],[object Object],[object Object]

Other Forms of Open-Ended Credit ,[object Object],[object Object],[object Object]

Figure 6.1: Credit Card Disclosure Information

Teaser Rates and Default Rates ,[object Object],[object Object],[object Object]

Credit Card Fees ,[object Object],[object Object],[object Object],[object Object],[object Object]

Liability for Lost or Stolen Cards ,[object Object],[object Object],[object Object],[object Object]

Figure 6.2: Sample Statement for a Revolving Charge Account

Credit Card Statements ,[object Object],[object Object],[object Object],[object Object]

Credit Statements (Continued) ,[object Object],[object Object],[object Object]

Correcting Errors on Your Credit Card Statement ,[object Object],[object Object],[object Object],[object Object],[object Object]

Golden Rules of Credit and Credit Cards ,[object Object],[object Object],[object Object],[object Object],[object Object]

Manage Credit Cards Avoid Fees

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Manage Credit Cards Avoid Fees