CM - Using Credit Responsibly Lesson

Using Credit Responsibly

It is important to be responsible when using your credit. This record of spending and paying history stays with you for a significant period of time and you want to avoid any negative records. Keeping your credit history in good standing will enable you to make major purchases in the future. The information in this lesson will offer advice on how to use your credit responsibly and it shares some of your rights as a consumer.

Credit Responsibility

View the information in the tabs below.

Your responsibility is:

 

  • Read and understand the terms of the credit agreement
  • Avoid living beyond your means and only borrow what you can repay
  • Pay debts immediately and on time
  • Report lost or stolen credit cards as soon as possible
  • Contact your creditor if you are unable to pay the bill

 

 

 

Credit Laws Interactive

Learn more in the activity below.

 

 

Credit Management Module Review

Now that you have completed this module, you should know and understand:

  • The 5 Cs of Credit
  • How to build a credit history
  • The 5 components of your credit score
  • What information can be found on your credit report and credit card statement
  • The consumer laws that protect you against creditors

 

Review what you have learned in the activity below.

 

 

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