Budget Comic

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Storyboard Text

  • So you've decided to apply for a credit card! In this comic, we'll show you how to use a credit card to your best advantage.
  • Before we learn how to use a credit card, we should know some history;
  • HOW DOES IT WORK?
  • -credit card companies charge the cardholders an annual fee and bills them on a periodical basis -credit cards are small pieces of plastic where you can charge goods and services to an account where you might not be able to afford it then, but at the end of every month you are billed your fee plus interest
  • -credit cards began in the US in the 1920's when individual firms began issuing them to costumers to use at their company outlets -first universal credit was introduced in the 1950's
  • Here at the bank, we have two standard types of credit cards: Secured: Unsecured: -given a certain line - most common type of of credit* credit -bank watches you -borrow certain line of -builds credit history credit as long as -can upgrade to min. fee is paid at end unsecured credit of month *line of credit: amount of credit extended to borrower
  • BANK
  • At places like the mall, you might get something like a: Retail Credit Card- works the same as an unsecured card, but for a specific retail store, and usually with high interest rates OR Charge Card- same as other credit cards but must pay in full at end of month. If not paid, higher interest rates
  • MALL
  • DO's & DON'T's of CREDIT
  • DO
  • -limit the number of credit cards -read the fine print -keep record of purchases -leave your credit cards at home
  • 
  • -pay create a budget -use only for emergencies -pay the balances in full every month - pay on time
  • DO's & DON'T's of CREDIT
  • DON'T
  • -charge food purchases -take cash advances -purchase special services -charge what you can't afford
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