CREDIT DEBIT CARD MANAGEMENT

Front

Which of the following situations is an example of responsibly taking on debt?
Get a credit card but don't use it to avoid more debt,
Spend up to your credit limit each month,
Become an authorized user on an adult's card,
Make only the minimum payment each month

Back

Become an authorized user on an adult's card

Front

Which of the following does NOT contribute to your credit score?
Your payment history,
Your debt-to-credit ratio,
Length of credit history

Back

Which banks issued your credit cards

Front

How are a credit score and credit report related?

Back

A credit score is determined by the factors in your report.

Front

Where can you get a free copy of your credit report?

Back

annualcreditreport.com

Front

What can debt collectors do if you don't make payments towards your loans?

Back

Call you between 8am-9pm to talk to you about your loans.

Front

What information can you find on a credit report?

Back

Inquiries you've made on new lines of credit

Front

Where do banks get the money to lend out to consumers?

Back

From their clients' savings accounts

Front

How do banks make money off of the credit they issue?

Back

They charge a high interest rate on the loan.

Front

Which of the following is NOT a typical type of credit? Mortgage, Overdraft, Credit Card, Pre-Paid Debit Card

Back

Pre-Paid Debit Card

Front

How do you avoid paying interest on your credit card (or any other loan for that matter)?

Back

Always make the full payment on time.