More For Your Money - University of Illinois Extension

http://MoreForYourMoney.extension.uiuc.edu

What Is Credit?

Sooner or later, almost everyone needs to use credit. Credit lets you use goods and services while you pay for them. Credit is not increased income, a way to buy what you can’t afford, unlimited, or free.

Activity

Answer yes or no to each phrase below.

Do you think having …

a cell phone is using credit?
a loan is using credit?
an account with a power company?
a lease with a landlord?
a credit card at a local department store?