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Banking and Borrowing Chapters 5-7 in Text.

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Presentation on theme: "Banking and Borrowing Chapters 5-7 in Text."— Presentation transcript:

1 Banking and Borrowing Chapters 5-7 in Text

2 Financial Institutions

3 Basic Savings Vehicles

4 Things to Consider with Savings

5 Selecting a Checking Account

6 The FDIC $250,000 per depositor per insured bank

7 Avoid Identity Theft

8 Credit Application Questions

9 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

10 Credit Score

11 What Impacts Your Credit Score?

12 Credit (FICO) Score

13 Why People Default on Loans

14 Danger Signs with Credit


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