U5L2 BW Finance

Front

What are the two most important factors in calculating your credit score?

Back

Payment history and total debt

Front

How can your credit score impact your financial well-being?

Back

Your credit score can determine whether you are approved for a loan and what the interest rate on that loan will be.

Front

What is credit?

Back

Ability to borrow money or obtain goods or services before payment

Front

What are the advantages of having good credit? Options: Lower interest rates on loans, higher chances of loan approval, access to better credit card offers, ability to negotiate better terms on loans, and improved financial opportunities.

Back

Lower interest rates on loans, higher chances of loan approval, access to better credit card offers, ability to negotiate better terms on loans, and improved financial opportunities.

Front

What are the disadvantages of having bad credit?

Back

Higher interest rates, difficulty in getting approved for new credit, limited access to financial opportunities, and potential damage to personal and professional relationships.