Credit

Which one is considered a danger of using a credit card

• no cash needed
• leads to overspending
• convenient
• earns rewards

Your credit score is not configured off of which of the following:

• Payment history
• Amount owed
• Where you live
• Length of credit history

Tags

CCSS.7.NS.A.2C

To build a good credit history, you should

• open as much credit as possible quickly
• use the maximum credit allowed on all your credit cards
• pay on time and as much of your balance as possible
• 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

What is a credit score?

• A credit score is a three-digit numerical rating that reflects how likely you are to fail at paying your debts
• A five-digit numerical rating that reflects how likely you are to repay your debt. 
• A three-digit numerical rating that reflects how likely you are to repay your debt. 
• A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

What financial habits determine your credit score?

• Payment History & Amount you owe 
• Length of credit history & Amount of new credit applied for recently
• Types of credit open
• All of these are correct

How are a credit score and credit report related?

• A credit report is determined by the factors in your score

• A credit score is determined by the factors in your report

• Credit reports are less important than your credit score

• They're not related at all

Which is NOT one of the three main credit reporting agencies?

• Experian

• Equifax

• Vanguard

• Transunion

Getting sensitive information by disguising as a trustworthy entity in electronic communication

• Investment scam

• Pyramid Schemes

• Banking scam

• Phishing scam