Chapter 10

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:

CapacityCapacity

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: