1. By Mr. Butka Belleville High School

2. Why do you think it matters what sort of credit history/rating a person has? 5 sentence minimum

3.  The practice of buying goods / services now and paying for them later  One form is a loan: borrowed money paid back with interest.

4.  Character ◦ Past history of paying bills  Capacity ◦ Income level / ability to payback  Capital ◦ Assets (liquid and non-liquid) ◦ Collateral ◦ What you can offer as insurance to the lender ◦ Cosigner  Conditions ◦ Current economic status

5. Credit ScoreDescription 760 - 849Excellent score. The lender will offer you their best interest rate. 700 - 759Great score. There won't be any trouble in getting a loan at good interest rate. 660 - 699 Good score. There won't be any problem in getting a loan at good interest rate. 620 - 659Fair score. You may qualify for the loan but not at good interest rates. 580 - 619Poor score. You may qualify but the interest rates will be very high. 500 - 579 Very poor score. It's doubtful that you may qualify for the loan, and if you qualify, the interest rates will be extremely high.

6.  Limited Credit Card  Bills  Bank Account  Debit Card  MSN Tips for Parents MSN Tips for Parents

7.  Annual Fee: The amount you have to pay annually for membership (not all do this)  Interest Rate: The Annual Percentage Rate, the rate may be variable or fixed.  Grace Period: Period from bill to due date.  Minimum Payment: Variable or fixed.  Credit Limit: Maximum amount you can charge.  Other Fees: Late fees, overcharge, etc.  Bonuses: Incentive for you to use the card.

8.  This site is a great calculator for credit chargessite

9.  Understand Credit Card Statement Understand Credit Card Statement  Money Skills Money Skills  Beware Debit Card Holders!Debit Card  Feel free to create an informative presentation ;PowerPoint, Impress, or other Digital means, covering any topic of interest on these sites. (extra credit)

10.  The following changes that you/your parents will see on their credit card statement  45 days notice if your interest rate will increase or if it makes changes in annual fees, late fees or other charges.  Caveat! Unless APR is set on a variable rate (e.g. index, or fed rate)

11.  Suppose you have offers from three credit card companies. Company A offers a fixed APR of 12% and an annual fee of $60.00. Company B has no annual fee and offers an introductory rate of 9% which rises to 19% after 3 months. Company C offers a fixed APR of 15% with an annual fee of $30.00. If you intend to pay off the balance each month which of these offers is best for you?

12.  Bring your text book  Budgets & You!