Consumer Economics Final

If your credit score is low, interest rates will be_____

• Higher
• Lower
• The Same

How do you close a credit card?

• Shut it
• Call company and destroy card
• Call company and throw it away

How often can you review your credit reports?

• Once a year
• Twice a year
• As many times as you please

Applying for too much credit in a short time is ____ for your credit

• Great
• Bad
• Not Important

When the borrower doesn't need to apply for credit each time it is desired

• Open-end Credit
• Closed-end Credit
• Debit or Credit

Borrow pays equal payments on a regular basis

• Open-end Credit
• Closed-end Credit
• Debit or Credit

In order to be in the credit "Safe Zone" you should only use what % of your net income?

• 75%
• 61%
• 20%

How old must you be to have a credit card?

• 18 
• 21
• 96

What is best for online purchases?

• Credit Card
• Debit Card
• Cash

What should you put on the back of your credit card?

• See Baby Photo
• See Micro SD
• See Photo ID