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Created with Fabric.js 1.4.5 Credit cards! When dealing with credit cards, there are many terms and processes that come into play. What is a credit score?Credit scores (also known as FICO scores), contain the information that each credit bureau has on file about you, how diligently you pay your bills, and if you have filed for bankruptcy. Credit scores APR Over the limit fee This is a fee for when you spend over the specific dollar amount the company provides for. + = Both APR and over the limit fees can affect your credit score. Credit cards willallow you to spend more than the credit limit and you are charged a fee. If this happens, it will be noted on your credit report and cause your score to drop. This can cause your APR to increase making it easy to get into debt, making it hard to get a loan or even a good job. As you can see, Credit cards fall into a big And can affect your whole life if they aren't used correctly. A person can have good intentions when getting a credit card, it will be said "for emergencies only". Or maybe things like this could happen Don't let them trick you! The average US household credit card debt stands at $15611 The average time to pay offdebt varies on the amount you owe, and your average pay check. There are ways to make it easier, by using a debt calculator, or forming a payment plan Dont fall into the hole You can get a creditscore by using a credit card. The credit bureau is the organization that keeps track of your credit score. APR stands for Annual percentage rate. It is your interest rate for a whole year. Credit card companies will make the introductoryrate low, as an incentive for you to choose them. After time, the rate will increase and cost you more money.
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