CREDIT

A plastic card that you use to access a line of pre-established credit is called:

• debit card
• credit card
• visa
• mastercard

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

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

What does APR stand for?

• American Peoples Reports
• Annual Progress Report
• American Percentage Rate
• Annual Percentage Rate

Tags

CCSS.7.RP.A.3

What is credit?

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

How is credit used?

•  Employers may check job applicants' credit.
• Before renting an apartment, the landlord will check the prospective tenant's credit.
• If you apply for a cell phone or credit card, your credit will be checked. 
• All of these are correct, these are only some of the ways credit can be used. 

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

The least amount that must be paid on a credit card each month is

• Late Fee
• Credit Limit
• Payment amount
• Minimum Payment

Tags

CCSS.7.RP.A.3

Which of the following situations is an example of responsibly taking on debt?

• Get a credit card but don't use it to avoid more debt

• Spend up to your credit limit each month

• Become an authorized user on an adult's card

• Make only the minimum payment each month