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Why They're Called Credit Cards

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Get a jump start on five money lessons.

You can find the best deal by reading the credit terms and conditions for each offer you come across.

Pay special attention to:

The downside

Famous people have credit woes, too!

Your skills for managing your credit card could save or cost you hundreds of thousands of dollars throughout your life. How?

Your credit card becomes part of your credit history. Credit bureaus collect information about how you handle your credit, and make that information available to lenders, landlords, insurers, and even to potential employers.

It's a rating of your money management skills.

If you do not always make your credit card payment on time, future lenders may not approve your loan. Also even if future lenders approve your loan applications, they'll charge you more interest to cover their perceived risk.

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Unpaid speeding tickets?

If you have a poor credit history, you'll pay:

If you fail to pay your credit card bill for three months or more, you earn yourself a bad credit history and those percentage points go up. You also may have to pay extra fees up front.

What you do now affects your future.

When should you get a credit card or take out a loan? Think over this decision carefully.

You've probably already started receiving credit card offers. Talk to your parents and decide when you have enough income and enough will power to handle a credit card wisely.

True or False: Franklin signed a petition urging the abolition of slavery. Click Ben's head for the answer.
TRUE: On Feb. 12, 1790, as president of the Pennsylvania Abolition Society, he signed a petition urging the abolition of slavery and the suppression of the slave trade. He died two months later.
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Redwood Credit Union is your community financial cooperative, helping you and your family to reach your financial goals and dreams. We offer free financial education and tools to help you manage your money and succeed!

Ask how we can help you save!

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