Consumer economics unit test #1 review

WHEN YOUR CREDIT SCORE IS LOW

• INTEREST ON LOAN WILL BE
  HIGHER
• YOUR PURCHASING POWER IS HIGHER
• YOUR BILLS ARE LOW

WHEN YOU CLOSE A CREDIT CARD

• GET ANOTHER CARD IMMEDIATELY 
• CALL AND WRITE COMPANY AND THEN
  DETROY CARD
• TELL YOUR FRIENDS

YOUR WHAT CAN BE VIEWED ONCE A YEAR

• CREDIT REPORT
• CREDIT SCORE
• BANK BALANCE 

WHAT SHOULD YOUR FIRST CARD BE?

• A TRUCK
• A SECURED CREDIT CARD
• NON-SECURED CREDIT CARD

WHAT CANT BE USED IN A CREDIT REPORT

• MEDICAL INFO
• FAMILY INFO
• BANK INFO

WHICH IS BAD FOR YOUR CREDIT SCORE

• GOING ON A JOY RIDE
• APPLYING FOR TOO MUCH IN A SHORT TIME
• PAYING PAYMENTS ON TIME

WHY BORROWING IS SPENDING FUTURE INCOME

• BECAUSE YOU COULD SPEND THAT FUTURE MONEY

• ITS NOT

• BECUASE OF SCIENCE AND DENSITY

WHAT IS OPEN-END CREDIT

• ABILITY TO GIVE YOURSELF CREDIT
• NOT HAVING TO APPLY FOR CREDIT EVERY TIME CREDIT IS DESIRED 
• WHEN YOU LOOSE ALL YOUR CREDIT IN UNDER A WEEK 

WHAT IS CLOSED-END CREDIT

• EQUAL PAYMENTS ON A REGULAR BASIS
• CREDIT YOU WILL NEVER LOOSE
• HAVING CREDIT FOR A LONG PERIOD 

WHAT IS A SAFE AMOUNT OF CREDIT TO TAKE OUT AT ONCE

• 10%
• 20%
• 30%