Credit (2/29/19)

The maximum amount you are allowed to carry as a balance on the card

• interest
• ARP
• credit limit
• all of these

Over time, people who pay off their credit card balance in full every month will pay less in interest on their credit card.

• true
• false

Tags

CCSS.7.RP.A.3

What is credit?

• Free money
• Borrowed money
• Standard of living
• A term that causes tears

To build a good credit history, you should

• pay the minimum or more on your account each month
• pay on time or early
• be careful not to take on too much debt
• all of these

All of the following will help you develop credit except what?

• Credit Card
• Mortgage
• Student Loan
• Paying Cash

Credit is merely a tool to buy something now and pay for it later.

• True
• False

Building a credit history is one reason people borrow money.

• True
• False

Which of these does not appear on a credit report?

• Address
• open accounts
• late payments
• income

Late payments can help create a high credit score.

• True
• False
• Maybe
• Nevermind

What is a credit report?

• A summary of a person's financial history that includes personal information, financial information, and employment information.
• History from a FICO score.
• Adding monthly bills and dividing the sum by the monthly income then multiplying by 100.
• Shoes, man. Lots of shoes.