Credit Unit Review

Front

Which Type of loan typically has the LOWEST Interest Rate? Options: Payday Loans, Student Loans, Credit Card Loans, Personal Loans

Back

Student Loans

Front

What is the primary purpose of a Credit Score?

Back

To measure your creditworthiness

Front

Which is NOT a factor in calculating Credit Score? Age of the Borrower, Amount of Debt owed, Payment History, Length of Credit History

Back

Age of the Borrower

Front

What is APR?

Back

Annual Percentage Rate

Front

What is the term for paying off a Student Loan earlier than scheduled?

Back

Prepayment

Front

Which of the following is a Secured Loan? Credit Card, Student Loan, Mortgage, Payday Loan

Back

Mortgage

Front

What is the MAIN difference between a Subsidized and Unsubsidized Loan?

Back

The Government pays the interest on Subsidized Loans while you're in school.

Front

What is a common consequence of missing a Mortgage Payment?

Back

Foreclosure Risk

Front

How can a HIGH Credit Score help when applying for a Auto Loan?

Back

Lower Interest Rates

Front

What is a Grace Period on a Credit Card?

Back

The time during which you can pay your balance without incurring interest.