Credit – Consumer Credit and Credit Cards
Course Description: This online course provides an overview of consumer credit and credit cards. It covers the fundamentals of using credit, including understanding how credit works, setting up a budget, building a good credit score, and evaluating different types of credit cards. You will gain an understanding of the benefits and risks associated with various forms of consumer debt, as well as learn how to maintain financial stability by making wise borrowing decisions. Through interactive lectures, readings, discussions, and assignments you will develop the knowledge and skills required to use credit responsibly for short-term needs or long-term investments. This course is ideal for individuals who want to understand how different forms of consumer debt can help them achieve their financial goals while minimizing long-term costs.
Course Objectives:- Develop a basic understanding of personal finance terms related to consumer borrowings such as revolving accounts and installment loans
- Understand the basics of setting up a budget that incorporates both fixed & variable expenses
- Analyze different types of traditional & non-traditional borrowing options such as home equity loans & payday advance loans while recognizing associated risks with these lending instruments
- Evaluate various types of consumer credit products such as store cards, traveler’s checks cards & prepaid debit cards depending on personal needs
- Create achievable strategies for obtaining better terms on present models while managing existing debts efficiently
- Check & improve current credit score in order to receive favorable interest rates while applying for new lines of credit
- Understand how fees such as late fees & over-limit fees affect your finances & strategize against them accordingly
- Develop essential money management skills that are needed for effective usage & utilization of available credits
- Analyze case studies or real-world examples regarding loan defaults or other consumer finance situations which would aid in identifying principles from this course that could be applied practically
- Learn about fraud detection techniques within the context of the present scenario around identity theft so as to protect oneself from being victims
