Credit management

A credit report is a report showing a borrower's history of how well they paid their bills.

• True
• False

It would be best to have a high credit score

• True
• False

Capital refers to a person’s assets.

• True

• False

Monthly student loan payment

• Installment

• Revolving

• Single Payment

• Collateral

The cost of borrowing money is referred to as 

• Interest 
• Annual Percentage Rate 
• Credit 
• Credit Line 

Benefits of credit cards include:

• safe and convenient, bonuses are offered
• allows you to build a positive credit report
• needed for reservations and online shopping
• all of these

Which one is considered a danger of using a credit card

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

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

Tony borrowed money from the bank to buy a new house. A year later he lost his job and has started to not be able to make his house payments. This problem is known as what? 

• credit 
• budget 
• debt 
• interest 

My cousin wanted to borrow $300 from me. I loaned him the money but I told him that he would have to pay me back $330. The money that was paid back to me on top of the loan is known as_________. 

• credit 
• interest 
• savings 
• debt