Understanding Credit and Its Importance

Front

What is credit?

Back

Borrowing money to buy something now and paying it back later

Front

Why use credit?

Back

Convenience and safety

Front

Which of the following is NOT a type of creditor? A) Banks/credit unions, B) Investment firms, C) Grocery stores, D) Credit card companies

Back

Grocery stores

Front

Fill in the blank: A good credit score makes it easier to borrow money for ______.

Back

Big purchases

Front

What is one factor to consider before using credit?

Back

Necessity of purchase

Front

How do banks decide who gets credit?

Back

By checking credit reports and scores

Front

Who can see your credit report?

Back

Landlords and employers

Front

What is a booster for a credit score?

Back

Timely payments

Front

Which of the following is a result of poor credit habits? Lasting negative impacts, Improved creditworthiness, Financial advantages, Lower interest rates.

Back

Lasting negative impacts

Front

A good credit score provides ______.

Back

Financial advantages