What is it?
Credit means borrowing with an agreement to repay. Electronic payments move money using a digital service.
Why would I need this?
Terms and due dates matter before agreeing to a transaction.
Show me.
- Ask what the total cost is and when repayment is due.
- Read the written terms before agreeing.
- Confirm who will receive a payment and the amount.
- Keep private account credentials out of messages and public posts.
Try it.
On paper, list three questions you would ask before using an unfamiliar financial service.
Watch out for this.
HAB does not process payments. This lesson does not recommend a product or determine whether borrowing is right for you.
Explain this another way
The useful first step is understanding the agreement before using it.
Show me an example
What is the total cost? When is it due? Who can explain a transaction I do not recognize?
What does that word mean?
Direct deposit: An electronic payment sent directly to an account, such as wages.
Routing number: A number used to identify a financial institution for certain transactions. Do not enter banking details here.
Open the full glossaryYou did it.
You have a way to do this. Repeat the practice or move on when you are ready.