Ch 6: Personal Credit & Loans

About This Chapter

The short video lessons in this Personal Credit & Loans chapter will guide you through the basics of managing credit cards, the types of credit available and more. A short quiz at the end of each lesson will help you assess your understanding.

Personal Credit & Loans - Chapter Summary and Learning Objectives

Managing personal credit is a vital skill in today's economy. These lessons provide information on the differences between credit and debit cards, major and retail credit cards, what the primary types of credit are and how they work. You can also watch engaging videos that provide information on bankruptcy, credit protection and more. In these lessons, you'll learn things like:

  • What financing is and how it works
  • The primary forms of consumer credit
  • The laws governing and regulating credit protection
  • What a personal credit report is and how to access it
  • What the creditor's rights are in a bankruptcy case
  • An overview of personal loans

VideoObjective
What Is Financing? - Definition & Types Gain an understanding of what financing is and the types of financing plans most commonly available.
Consumer Credit: Types & Differences Understand installment closed-end credit and non-installment and revolving open-end credit and learn to differentiate between types of credit cards.
What Is Credit Protection? - Laws & Services Learn about the laws that regulate credit protection and the services that are available.
Personal Credit Report: Explanation of Contributing FactorsLearn to identify, read and comprehend a personal credit report, and the factors that affect it.
Creditor Rights in Bankruptcy Find out what happens in a bankruptcy situation.
Personal Loans: Loan Maturity & Interest Rates Understand the processes involved in filing for a loan, including interest rates, etc.

9 Lessons in Chapter 6: Personal Credit & Loans
Test your knowledge with a 30-question chapter practice test
Credit & Debt in Personal Finance

1. Credit & Debt in Personal Finance

Credit and debt are the foundation of any form of finance. This lesson highlights the pros and cons of credit and debt as they pertain to personal finance.

Factors That Affect Credit Worthiness

2. Factors That Affect Credit Worthiness

Access to credit to pay for education, a house, a car or other items is an important part of managing personal finances. In this lesson, you'll learn what factors lenders consider when deciding whether to loan someone money and what interest rate they will charge.

Personal Bankruptcy: Law & Types

3. Personal Bankruptcy: Law & Types

There are several different types of bankruptcy, but only two are designed for individuals. This lesson explains these two types: Chapter 7 and Chapter 13 bankruptcy.

Creditor Rights in Bankruptcy

4. Creditor Rights in Bankruptcy

Bankruptcy is governed by federal law and allows a debtor the legal right to reorganize, and sometimes discharge, his or her debts. This lesson explains the three main types of bankruptcy proceedings.

What Is Financing? - Definition & Types

5. What Is Financing? - Definition & Types

People borrow money to purchase homes, cars, boats, or anything else they don't have the money for at the moment they want to make the purchase. In this lesson, learn what financing is, as well as different types of financing used every day.

Consumer Credit: Types & Differences

6. Consumer Credit: Types & Differences

In this lesson, we'll discuss creditworthiness and different types of consumer credit: installment, non-installment, and revolving credit. You'll also learn about repayment requirements for each and if there's a cost to borrowing the money.

What Is Credit Protection? - Laws & Services

7. What Is Credit Protection? - Laws & Services

Credit protection is a form of consumer protection that is designed to help preserve credit health for both individuals and businesses. This lesson discusses the laws and services involved in credit protection as well as the FTC's role.

Personal Credit Report: Explanation of Contributing Factors

8. Personal Credit Report: Explanation of Contributing Factors

In this lesson, we'll discuss your credit report and score. You'll also learn about the contributing factors of history, maximization, time, and composition.

Personal Loans: Loan Maturity & Interest Rates

9. Personal Loans: Loan Maturity & Interest Rates

In this lesson, we'll explore personal loans. You'll learn about the application process and see how credit score can affect the loan amount, interest rate, and repayment period.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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