2. A finance charge is the total dollar cost

of credit including interest and all other
charges
 Credit Companies may use finance
charge because they get additional
money for using the convenience of a
credit card

3. Credit card companies usually charge 5-

10% for interest
 It is dangerous to pay the minimum
amount of interest because they interest
and money can build up

4. Visa

 MasterCard
 American Express
 Chase

5. It is important to know your credit score

so you don’t go into bankruptcy, and so
you can get a loan
 Good credit score is 800
 A bad credit score is 350

6. With a credit card consolidation program you

manage just one repayment at month, so
instead of coping with several repayments at
month you deal with a unique and lower
item, then your debt management become
easier
With the right credit card debt consolidation

loan you get a lower interest rate, meaning
that you are turning several high interest rate
debts into a lower interest rate, if you do your
research and comparison efficiently, you
should be able to get the lowest interest rate in
the debt consolidation loans market

7. You become debt free in 3-4-5 years, with programs like

debt settlement consolidation this span can be reduced
to 12-36 months
If the consolidation of your credit cards involve a loan,

then you are rebuilding your credit during the process,
while with debt settlement you do not rebuild your credit,
it has other benefits associated like paying less than what
you owe today that should be analyzed
With credit cards debit consolidation or debt settlement

consolidation you stop calls for collection from the
companies. peace of mind is a high value asset, isn't it?

8. High Interest Rate

 Late fees/ Over limit Fees
 Bad Credit
 High Monthly Payments

9. PRT


10. A credit application is a written request

for credit, generally in a form specified
by the lender
 You normally fill it out when you want to
change your credit

11. Truth in lending law is the federal law

that requires lenders to fully disclose, in
writing, the terms and conditions of a
mortgage, including the annual
percentage rate

12. The Fair Credit Billing Act (FCBA) is a

United States federal law enacted as an
amendment to the Truth in Lending Act