Banking: Credit and Loans (Platinum)

Recipients of the Banking: Credit and Loans (Platinum Level) credential have demonstrated concept proficiency and completed  the following tasks:

1. Define “credit” and “loans”.
2. Define “collateral” and explain its importance when getting a loan.
3. Define the “principle” of a loan.
4. Explain the term “defaulting on a loan”.
5. Discuss why your “capacity” is important to the bank.
6. Define “credit history” and discuss the importance of having a good credit history.
7. Explain why a bank is interested in your character when making a decision about credit and loans.
8. Describe 7 basic types of information requested on a credit application.
9. Define “liability”.
10. Define “garnishment”.
11. Explain what it means to have a “co-signer”.
12. Name and describe 3 types of loans.
13. Define “term” and explain its importance in paying back a loan.
14. Explain how your monthly loan payments are calculated.
15. Define “revolving credit ”.
16. Define “credit limit”.
17. Define “finance charge”.
18. Explain why it’s important to use credit cards very wisely.

For more information on digital badge credentialing, check out the Education Associates’ Quick-Start Guide.

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