Section 2

Section 2 Introduction

 

Have you ever borrowed money from your parents or friends? Unless it was a large amount of cash, they likely didn’t charge you interest or service fees. Banks and companies have set up a variety of different fees and interest rates to be used when they lend credit. Understanding the credit services that various financial institutions offer helps you make informed decisions about money.

 

In this section you will not complete specific lessons. Through the Credit 101 project you will learn about the various options banks and other finaincial institutions offer to access and manage your money.

Section 2 Project: Credit 101

 

It’s now time to do the Section 2 Project: Credit 101. Click on play to open the project.

 

 

Section 2 Summary

 

Every person has different credit needs, and banks and companies have a never-ending supply of credit services to meet those needs. In Credit 101 you researched, organized, and gained knowledge on a variety of credit services, including

• personal loans

• bank credit cards

• store credit cards

• payday loans

• overdraft

• On Approved Credit (OAC) financing

Your research helped you identify solutions and answers for questions surrounding two different credit scenarios. Hopefully this project has also helped you think about your credit options for the future.