

U5L2 BW Finance
Flashcard
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
Student preview

5 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What are the two most important factors in calculating your credit score?
Back
Payment history and total debt
2.
FLASHCARD QUESTION
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.
3.
FLASHCARD QUESTION
Front
What is credit?
Back
Ability to borrow money or obtain goods or services before payment
4.
FLASHCARD QUESTION
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.
5.
FLASHCARD QUESTION
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.
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