Credit and Credit Cards Quick Flashcard

Front

To build good credit what is one thing you can do? Options: Buy lots of stuff and owe a lot of money, Buy only what you need on credit, Buy a new phone every year, Stop paying your bills.

Back

Buy only what you need on credit

Front

Creditors will consider your income, how long you have been at your job, and your credit and credit history to determine if they will give you a loan

Back

True

Front

Should Debbie apply for a few credit cards so she has some extra money each month or budget within her means?

Back

No, she still has $210 dollars left for incidentals like soap, shampoo etc. and she can save a little if she needs to buy new clothes or shop at a thrift/second hand store for clothes.

Front

All credit cards have the same interest percentages on items purchased.

Back

False

Front

When we budget or buy things what do we need to know?

Back

How much money you have

Front

Colten has to buy a new phone from overuse (way overuse). Should Colten buy the new iPhone 5000 with the green shock absorbing case with telepathic relay capabilities at $4000 or a more affordable phone with general capabilities that is good enough to provide for his communication needs for work and for social interaction?

Back

The affordable phone because I want to make smart choices regarding budgeting and I like to eat.