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Class notes

Credit Card Notes

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Notes on the subunit, (credit cards) for the financial math unit of the Mathematical Reasoning course.

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  • November 19, 2024
  • 7
  • 2024/2025
  • Class notes
  • Leanne robertson
  • Financial math
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Credit Score

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consistent timely payments.

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view people who habitually max out credit cards as people who can’t
handle debt. Your repayment history and level of debt are important
factors in determining your credit score.



Bills :




Balance : How much
you
owe




Minimum to avoid late fees
payment
:




* If don't balance in full that
you pay ,




when interest accumulates

, How do Credit Cards work?

Student credit cards are designed for building credit. They have a low
maximum loan amount. An internet search (eg “best student credit cards”)
gives lots of offers.

How are the new balance and finance charge on a credit card determined?
-




average daily balance method
transactions)
(including new


In
general
-




-
Example:
&
New balance-old unpaid charges
↑ possible late fee

+ new
charges

possible interest

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