Unit 11: Credit History

Your ability to borrow is based on the lender's belief that you will __________________. 

• repay your debt
• make more money
• extend your loan
• apply for another loan

Tags

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

Why is it important to have a positive credit history?

• It can earn you a higher interest rate on a loan.

• It will affect your ability to buy a house or car.

• It will allow you to be able to skip payments on your credit card.

• It will allow you to pay just interest and not principal amount on a loan.

What is a student loan?

• A college savings account

• A loan you have to pay back with interest.

• Money awarded to a student that they don't have to pay back.

• A bank account

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

How can you establish a positive credit history?

• Paying your bills on time

• Buying stuff with cash only

• Paying less than the minimum payment

• Maxing out your credit card

Which is true about credit cards?

• When you use a credit card, the money is pulled from your checking account.

• There is no interest on credit cards.

• You have to make monthly payments on your credit card.

• There is not a limit on credit cards.

An amount of money given to you for college based on performance, such as academics or athletics.

• Grant

• Student Loan

• Scholarship

• Savings

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Credit Card is

• a card that allows you to pay the balance over a period of time, subject to interest

• a card that immediately deducts funds from your checking account

Tags

CCSS.6.NS.C.5

Debit Card is

• a card that allows you to pay the balance over a period of time, subject to interest

• a card that immediately deducts funds from your checking account

Tags

CCSS.6.NS.C.5

What is a deposit?

• an addition of money into a bank account

• moving money from one account to another

• the removal of money from a bank account

Tags

CCSS.6.NS.C.7C

What is a transfer?

• an addition of money into a bank account

• moving money from one account to another

• the removal of money from a bank account

Tags

CCSS.7.NS.A.1A