Banking and Borrowing Chapters 5-7 in Text.

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Presentation transcript:

Banking and Borrowing Chapters 5-7 in Text

Financial Institutions

Basic Savings Vehicles

Things to Consider with Savings

Selecting a Checking Account

The FDIC $250,000 per depositor per insured bank

Avoid Identity Theft

Credit Application Questions

FICO Credit Score A number generally between 300 and 850 Higher numbers are better You need about 760 to get the best mortgage rates You need about 720 to get the best auto loan rates Your credit reports do not contain your FICO credit score You can purchase your credit score for $7.95 as shown in your credit/debit assignment

Credit Score

What Impacts Your Credit Score?

Credit (FICO) Score

Why People Default on Loans

Danger Signs with Credit

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