OTB Ch 25, 26, 27

If you already have a large amount of debt, creditors will be likely to give you more credit.

• True

• False

Creditors, employers and insurance companies can obtain your credit report to view your history.

• True

• False

The federal government does not regulate the credit industry.

• True

• False

State government does not regulate the credit industry.

• True

• False

The fastest way to pay off a credit card debt is to only make the minimum monthly payments.

• True

• False

Items cost more when you buy them on credit.

• True

• False

You cannot be denied credit based on gender, age, ethnicity or religion.

• True

• False

Lenders must be up front with the cost of credit.

• True

• False

You are charged interest with every purchase on a credit card.

• True

• False

Paying off your credit card debt before it is due is the only way to avoid paying interest charges.

• True

• False