EverFi Financial Literacy Lesson 5: Credit and Debt

Front

Using a loan could help with the purchase of which of the following? A new television, A dream wedding, A house, Airline tickets to your dream vacation

Back

A house

Front

When are loans a good option to use? Options: To pay for airline tickets to your dream vacation, When paying for higher education, To buy that new television, For a dream wedding

Back

When paying for higher education

Front

What should you NOT use a loan to purchase? A house, Tuition for higher education, Airline tickets to your dream vacation, A car

Back

Airline tickets to your dream vacation

Front

Which item is important to consider when selecting a credit card? Options: Annual Percentage Rate (APR), Fees, The look of the credit card, Both APR and fees

Back

Both APR and fees

Front

Which of these items is NOT important to consider when selecting a credit card? Annual Percentage Rate (APR), Credit limit, Penalties and Fees

Back

The look of the credit card

Front

Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when _____.

Back

Choosing a credit card

Front

What is NOT a benefit of having a good credit score?

Back

You'll get accepted to better education institutions.

Front

What is a benefit of having a good credit score?

Back

When you need a loan, you'll have more loan offers to pick from.

Front

Having a great credit score will make it easier for you to get into a better educational institution. TRUE or FALSE?

Back

FALSE

Front

Secured loans are less costly than unsecured loans because _________.

Back

All of these are true.