CREDIT and LOANS

Welcome to group 3 !
Topics
Credit
Loans
CREDIT
Credi t (from Lat in credo transl . "I believe" ) is the trus t which al lows one party to provide resources to another pa rty where tha t s econd party does not r eimburse t he first party immediately (th ere by generating a debt), but ins tead a rranges either to repay o r return those resources (or ot her materials of equa l value) a t a later da te. The resources provided may be financial (e.g. granting a loan), or they may cons ist of good or ser vices (e.g. cons umer credit). Credit encompas ses any form of deferred payment. Credit is extended by a creditor, als o known as a lender, to a debtor, a lso known as a borrower.
Forms of
credit
Personal
credit
Internationnal
credit
Commercial
credit
Credit hire
purchase
Bank credit
State
credit
Credit History
Credit report
Credit score

Number that reflects information
in a credit report

Record of
credit history
A credit card
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
Tips for building a good credit score:
Review your free credit report every year
1
Keep balances below 50 percent of your credit limits
2
Dispute any errors or out-of-date information.
3
3
Pay your bills on time
4
4
Keep your accounts open longer
5
Tips
for
buildin
g a
good
credit
score
6
New credit can lower your score
Use more than one type of credit

7
8
Accurate negative information stays
on your credit report for seven to ten
years
Secured cards can help establish or
reestablish credit
9
10
Cosigning for anyone is dangerous to
your credit score
LOAN
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In finance, a loan is a
debt evidenced by a note
which specifies,among
other things, the principal
amount, interest rate,
and date of repayment. A
loan entails the
reallocation of the subject
asset(s) for a period of
time, between the lender
and the borrower.
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Types of
loans
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C
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Maturity (finance)
A financial term indicating the final date for
payment of principal and interest
Non-performing loan
A loan in or near default. According to the International
Monetary Fund, a non-performing loan is any loan in which:
interest and principal payments are more than 90 days
overdue; or more than 90 days' worth of interest has been
refinanced, capitalized, or delayed by agreement; or
payments are less than 90 days overdue but are no longer
anticipated.
Thank you for
your attention!