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A debit card is electronically
connected to the cardholder’s bank
account.
A credit score of 400 is excellent.
It is impossible for an 18-year old to
establish credit.
Credit cards are legally required to
disclose terms and fees.
Some credit cards offer rewards or points
toward a benefit to encourage usage.
It is not advisable to pay off a credit card
balance.
Interest is charged even if your credit card
balance is zero.
Some credit cards will charge you an
annual fee for the privilege of having it –
regardless if you use it.
Some credit cards will offer you a lower
introductory rate and then increase your
rate of interest after a period of time.
Cardholders can be charged a higher
interest rate for making balance transfers.
Age, salary, race where you live and
occupation all factor into your credit
score.
Paying your bills on time helps your credit
score.
Grace Period is the amount of time you
have to pay your credit card bill before
you start accruing interest.
A credit score less than 500 is risky?
This is when goods, services or money is
received in exchange for a promise to pay
a definite sum of money at a future date?
This type of credit is a loan which the
borrower must repay the amount in a
specified number of equal payments?
What is the maximum amount that can be
charged on a credit card called?
What is the cost of credit expressed as a
percentage?
What does A.P.R. stand for?
A record of a consumer’s credit history?
What is the number that summarizes an
individual’s credit record and history?
This type of credit is extended in advance
so that the borrower does not have to
apply for credit each time new credit is
desired?
What does creditworthiness refer to?
What does HELOC mean?
What website supported by the federal
government entitles consumers to one free
credit report each year from each of the
three major credit bureaus?
What is the name credit expressed in
dollars?
What is the 3-digit range for credit scores?
What is the name of our galaxy?
How many dimples are on a golf ball?
Name the three major credit reporting
agencies in the U.S.?
What’s another name for a credit score?
HINT: Originates from Fair
Isaac Company
Credit scores are calculated based on how
many general factors?
35% - Payment history
30% - Outstanding debt
15% - Length of Credit history
10% - Pursuit of new credit
10% - Types of credit in use
What are the 3Cs of Credit?
Character: reputation. Will you repay the debt?
Capital: what you own. What if you don’t repay
debt?
Capacity: Ability to repay. Are you capable of
repaying the debt?
How many planets in the solar system have
rings?
Jupiter, Saturn,
Uranus, and Neptune
all have rings.
What is NOT an example of closed
end credit?
Automobile loans
Mortgages
Education loans
Credit cards
All of the above
Match some advantages and
disadvantages to credit cards:
Advantage
Protection against fraud
Advantage
Tempting to overspend
Disadvantage
Convenient payment tool
Disadvantage
Useful for emergencies
Advantage
Interest can be costly
Match the device to what it measures:
Stop Watch
Distance
Scale
Temperature
Thermometer
Elapsed Time
Speedometer
Weight
Odometer
Rate of Travel