Gavilanes 1

Israel Gavilanes
Debock
English IV
Feb 20, 2015
Essential Question:
How Credit affects the economy?
Working Thesis:
The credit is one aspect that allows the economy to keep it running, and it ranges from
personal credit to business credit and is used to buy some asset which someone owns it and
someone else who wants to use it.
Refined Thesis:
The credit can be used for spending or for making a return on the future and the interests
are the ones that define how many people want to take the credit.

Annotative Bibliographies
"Credit." Ebscohost. World Book Inc., 1 Jan. 2014. Web. 19 Feb. 2015.
<http://eds.b.ebscohost.com/eds/detail/detail?sid=89c091e2-6bac-4396-9111b956af42a86d@sessionmgr113&vid=0&hid=127&bdata=JnNpdGU9ZWRzLWxpdmU=#db=fu
nk&AN=CR238700>.

Gavilanes 2

This article talks about what the credit is and the different points of view, for example it
is debt or credit depending on which side it is seen since the person who takes it has to repay the
lending but has money as well.
The credit transactions are made possible by contracts, the credit improves economy of
the countries and allow them to keep thriving and boosting the economy.
The article also describes how the credit fluctuation affect the prices of goods and assets,
some economists argue that the economic crisis may be predictable and caused in periods since
the over spending leads to this bad situations, and it also argues that some of the causes of
economic crisis can be the banks since they hold a large quantity and most of the assets in an
enclosed economy and it is not diversified among the common individual which conform a state
or nation.
The reason for choosing this article is because it states the credit from different point of
views not just as credit but also as debt
Web. <http://eds.b.ebscohost.com/eds/detail/detail?sid=93cc0c85-cbda-4f3f-987e872eb305e205@sessionmgr110&vid=0&hid=127&bdata=JnNpdGU9ZWRzLWxpdmU=#db=b9
h&AN=65294822>.
In this article is said the importance of savings since sometimes when bad times approach
is vital to have a secondary support, it advises to pay all the debt as soon as possible to avoid
interests and lowering on credit reports and scores which can affect in bad terms in the future
when a need approaches and that paying the debt and being prompt can be a wealth builder if
used correctly.

Gavilanes 3

Achieving a good credit score can pay off by providing low interests on loans borrowed
on the bank, a good credit score report above the national average means that the borrower can
pay the money lent and is more dependable.
In order to maintain a good credit score it is necessary to pay the debts without delays
and without procrastinating the payments which are the biggest reasons that make the people get
a lower credit score report, since it is very hard to have no debt, is a good strategy to keep it at
the minimum value as possible.
The reason for choosing this article is because it gives relevant information about the
credit scores which are one of the main parts in the subject of credit.
Web. <http://eds.a.ebscohost.com/eds/pdfviewer/pdfviewer?sid=05b5484d-3d38-4a219da4-d66187a73aff@sessionmgr4001&vid=1&hid=4113>.
This article talks about how credit scores affect to the identity of each individual and
some people identify in a wrong manner on how the business track their records and keep their
actions in databases, some services, utility companies, cellphone services companies, home
insurers, landlords and mortgage lenders base their decisions of any kind by revising these
companies reports which might seem that they are not related by any means but even if they are
not related they keep a record of each person on how people keep their record which can affect
even in decisions related to borrowing from a bank for example which is going to base the
decision of if lend or not and if yes at what interest rate.
It is advised to keep a good record in all the documents made and contracts as well since
all of them can be considered for a single decision in a non-related subject as said before.

Gavilanes 4

The reason of choosing this article is that it advices to keep a good credit score since it
will pay off and it gives subtle ways to do it as well.