PPT-Chapter 10 Notes Credit – You’re in Charge

Credit the ability to borrow money in return for a promise of future payment Credit has the opposite tradeoff as saving You give up the ability to spend in the future for the ability to spend now. ypically they charge 50 to help you but frequently they do nothing to help before taking your money and disappearing nder the New Jersey Fair Credit Reporting Act consumers are entitled to a free credit report annually ederal law now also provides c Credit cards and charge cards, what is the difference?. A credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them. . and Laws. 17.1. Establishing Good Credit. 17.2. Evaluating Credit and Laws. 17. SLIDE . 2. Chapter 17. Information stored. Before granting you credit, a creditor will check into your past credit performance:. Returns day books. Learning objectives. After you have studied this chapter, you should be able . to:. Make the appropriate entries relating to returns outwards in the returns outwards day . book. Make the appropriate entries relating to returns inwards in the returns inwards day . Credit Use and Credit Cards. Objectives. Compare and contrast installment and non-installment credit and discuss the costs of credit.. Discuss reasons for and against using credit.. Describe the types of charge accounts.. “Hi! Nice to meet you!”. Some questions. What does it mean to take “personal responsibility” for something? Give an example of a situation where you have taken responsibility for making sure something got done.. Professor Payne, Finance 4100. Learning Objectives. Know how credit cards work.. Understand the costs of credit.. Describe the different types of credit cards.. Know what determines your credit card worthiness and how to secure a credit card.. Establishing Good Credit. 17.2. Evaluating Credit and Laws. 17. SLIDE . 2. Chapter 17. Information stored. Before granting you credit, a creditor will check into your past credit performance:. Did you pay your bills on time? . Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.. McGraw-Hill/Irwin. 1. Calculate the amount financed, finance charge, and deferred payment. . 2. Calculate the estimated APR by table lookup .. Chapter Summary 1. An electric field exists around any charged object. The field produces forces on other charged objects. . The electric field is the force per unit charge.. Creating and Measuring Electric Fields. Managing Your Debts. Signs of Debt Problems. The Warning Signs. Signs of Debt Problems. The Warning Signs. Debt Collection Practices. Collection Agencies. Financial Counseling Services. Consumer Credit Counseling Service (CCCS). OBJECTIVES. Explain how you can develop a credit . history. Examine factors . to . consider when . deciding which credit card to . secure. Define . three . factors that creditors consider when . granting credit. LESSON THREE. FINANCE CHARGE: AVERAGE DAILY-BALANCE METHOD. Average Daily-Balance Method: Computing the finance charge on a credit account based on the average balance at the end of each day of the billing period.. Background and Summary title I of the Consumer Credit Protection Act Pub L 90-321 The TILA implemented by Regulation Z 12 CFR 226 became effective July 1 1969 The TILA was first amended in 1970 to p