Credit

Front

What type of credit would be a credit card?

Back

Revolving

Front

What type of credit would be a mortgage?

Back

Installment

Front

What type of credit would be an auto loan?

Back

Installment

Front

What happens when you pay the minimum on your credit card?

Back

You only pay interest, basically; You end up paying more; It takes longer to pay off; All of these are correct.

Front

What is NOT an advantage of a DEBIT card?

Back

It helps build your credit.

Front

Equifax, TransUnion, Experian are examples of _____?

Back

Credit bureaus

Front

Credit unions are different from banks because

Back

Credit Unions are not-for-profit, while banks are for profit institutions.

Front

Why do credit cards have higher interest rates than mortgages and auto loans?

Back

Credit cards are normally unsecured, while auto loans and mortgages are secured.

Front

A credit score of ____ would be excellent credit.

Back

780

Front

Revolving credit is...

Back

a type of credit that can be used repeatedly up to a certain limit as long as the account is open and payments are made on time.