Credit

If you ever plan to take out a loan or you currently owe money to another party, you need to understand credit and credit reports. Credit is the ability of a borrower to receive something (often money) in exchange to return the money to the lender at a later point in time. For example, when you buy a car, a bank (lender) provides the money to you (borrower). In exchange, the lender charges you interest. The interest charged is determined by several factors based upon your credit report. Therefore, it is important for you to monitor your credit report. Let’s take a minute to provide greater insight on credit and credit reports. Author: Jesse Ketterman, and Patricia Maynard; Title: Understanding Credit and Credit Reports (FS-1115).

Paying for health care can be a struggle, even if you have insurance. Many doctors and dentists now offer a special medical credit card to pay for services. However, medical credit card interest and fees can be very expensive. They add extra costs to medical care when money is already tight. Authors: Dorothy Nuckols and Priscilla Graves; Title: Medical Credit: Safety Net or Debt Trap?