Money Smarts - Be Credit Savvy

When you demonstrate creditworthy behavior, you:

• Put your FICO score at risk

• Can borrow at higher interest rates

• Are more likely to receive credit in the future

• Both B & C

If your credit card has a grace period and you pay on time, you can avoid:

• Interest on the amount you used

• A penalty fee

• An over-limit fee

• All of the above

What’s the best way to avoid serious credit card trouble?

• Paying at least the minimum due on each bill

• Regularly paying your outstanding balance in full and on time

• Using your card only in an emergency

• Finding the card with the lowest interest rates

Your credit report records:

• All uses of credit, but no other payments

• Major uses of credit, like student loans and home loans

• Whether you pay your cable bill on time each month

• Anything you buy using your credit card

What information do credit reporting agencies use to calculate your FICO score?

• The types of credit you use

• The amount of debt you currently have

• Your credit payment history

• All of the above