What is Credit?

What is the best thing you can do to keep good credit?

• Repay loans on time

• Don't ever borrow money

• Borrow money only from friends

• Pay with cash

What do you call someone who gives you a loan?

• Lender

• Borrower

• Institution

• Reputation

What is credit?

• Is your reputation around finances

• Money you borrow from someone else

• The interest paid on a loan

• Cash you have in your pocket

Why is it important to have good credit?

• So you can buy new things with cash

• So you can travel outside of Canada

• So you can impress your friends

• So you can be trusted to borrow money

What can hurt your credit?

• Not paying your debts back on time

• Never having had a loan

• Having no credit history

• All of the above