tailieunhanh - THE ESSENTIALS: Your guide to credit Sound Advice from Bank of America

At Bank of America, we are committed to providing you with sound advice and financial tools to help you build and maintain a good credit history and to reach your financial goals. When you use your Bank of America credit card responsibly, you can begin to establish a credit history that will benefit you now and in the future. Before you start using credit cards, it’s important to fully understand what a credit card is and how it works. How you use and manage your cards will have a big impact on your financial future. What exactly is a credit card? A credit card is more than just a piece of plastic | THE ESSENTIALS Your guide to credit Sound Advice from Bank of America Bankof America Index Chapter 1 Credit card basics 3 Your Chapter 2 Guide Using credit cards responsibly 4 to Credit Chapter 3 What your credit score means 5 Chapter 4 Setting and sticking to a budget 7 Chapter 5 Protecting your identity 10 Chapter 6 Other informational resources 11 Chapter 7 Your credit glossary 12 At Bank of America we are committed to providing you with sound advice and financial tools to help you build and maintain a good credit history and to reach your financial goals. When you use your Bank of America credit card responsibly you can begin to establish a credit history that will benefit you now and in the future. Before you start using credit cards it s important to fully understand what a credit card is and how it works. How you use and manage your cards will have a big impact on your financial future. What exactly is a credit card A credit card is more than just a piece of plastic. It s a loan from a financial institution that you can use and then repay over time by making monthly payments. Your credit card will have a set limit and you ll need to keep your total balance under that limit. When you make payments you ll be repaying the amount you spend plus interest-unless you make purchases only and pay your full balance each month. When you use credit cards wisely you ll have a simple way of managing your finances from month to month. Benefits of using credit cards You don t have to carry cash or write checks. You can use it to pay for unexpected emergency expenses such as car repairs and medical bills. If occasionally you don t have cash available for necessities such as food water and gas you can still purchase them. You ll receive a monthly statement which includes a record of all your purchases so you can track how much you re spending. You can consolidate all your spending into a single monthly payment. You may receive purchase protection and extended product .