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your free credit report every year 1 Keep balances below 50 percent of your credit limits 2 Dispute any errors or out-of-date information. 3 3 Pay your bills on time 4 4 Keep your accounts open longer 5 Tips for buildin g a good credit score 6 New credit can lower your score Use more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 Click icon to add picture 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. S e c u r e d U n s e c u r e d Types of loans D e m a n d S u b s i d i z e d C o n c e s s i o n a l 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 . 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. 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. 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