FCS-Credit
Storyboard-Text
- I'm so excited we're moving! My parents said their good credit score helped a lot in buying a new house.
- What's a credit score?
- Now that you know about credit scores, let's go back to what credit is.
- A FICO credit score is a score from 350-800 based on payment history, credit card use, credit history, credit mix, and new credit.
- Credit is something used to buy now and pay later with intrest. Credit cards can be used for everyday or large purchases.
- Interest: what you pay for using someone else's money.Different credit cards have different interest rates.
- Credit can even be used to purhcase a house or new car. As good as using credit is, there are also some not great things about using credit.
- When using credit, there can be a tempation to overspend wich can lead to debt. It also costs money to use the credit card money. Annual fees and high interest rates are charged for using credit cards.
- There are also perks to using credit cards which can be bought at banks, credit unions, credit card companies, and stores.
- Now do you understand credit?
- Yeah!
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