Credit Cards Craig Sakamoto 5/24/04.

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Presentation transcript:

Credit Cards Craig Sakamoto 5/24/04

What is credit How Credit cards work How Credit Companies make money Steps to maintaining good Credit

What is credit “Reputation” Credit history Proof of payment Risk level Loans, Mortgages Credit Card use

How Credit Cards Work Previous Balance Interest Payment -______________ +______________ New Balance Charges Made Ending Balance Charges Made +______________ Balance Balance

Credit Card Policies Credit Limit APR Additional Bonuses

How they make money Interest Rates Other Fees Cash Advances Late Charges Grace Periods

Handling Credit We’re Targets Moderation Pay in Full Pay on time

Credit Cards Craig Sakamoto 5/24/04