Educational Resources - Borrowing Basics
Types of Credit
Cost of Credit
Applying For Credit
Manage Your Credit
What is Credit anyway? Credit is money you borrow. It is usually referred to as
a loan. You make a promise to pay back the money you borrowed plus some extra. The
extra amount is part of the cost of borrowing the money.
Credit is important because it can be useful in times of emergency and is sometimes
more convenient than cash. In addition, large purchases such as a car or a house
generally need to be made using credit as most people do not have that much cash
While taking on debt never sounds like a good idea, it can actually be smart when
it helps to establish credit history and helpful when you need to purchase something
immediately but don't have cash available to make the purchase. By studying this
course, you can increase your understanding of:
Click on the links above to learn more!