Banking and Using Credit

Front

If you know the unit price of an item, you are better able to: Compare the prices of two brands, Estimate how much you will need, Determine the total cost of the purchase, Figure out the discount during a sale

Back

Compare the prices of two brands

Front

Income earned on an hourly basis is called a: Salary, Stipend, Wage, Benefit

Back

Wage

Front

Which factor has the biggest impact on a credit score? Length of credit, Amount owed, Type of credit, Payment History

Back

Payment History

Front

Ashley wants to use money from her checking account to make a purchase. Which payment method should she use? Options: Credit Card, Debit Card, Prepaid Card, Direct Deposit

Back

Debit Card

Front

What is the best strategy for avoiding credit card interest?

Back

Pay the full balance each month

Front

A ________________ is usually paid on a biweekly or monthly basis for professional employment

Back

Salary

Front

What is the problem with paying only your minimum credit card balance each month?

Back

You have to pay interest.

Front

The amount of money you borrow from a lender (the non-interest portion)

Back

Principal

Front

The fee a lender charges to borrow money

Back

Interest

Front

Definition of "Loan"

Back

a sum of money, that is borrowed, which is expected to be paid back with interest