Credit Report

Using a credit card is like getting a loan.

• False

• True

When you use a credit card to make a purchase, the amount of money will be deducted as soon as transaction goes through

• True

• False

A late payment record will stay on the credit report for 3 years.

• True

• False

What are the benefits of having a good credit score?

• Ability to find a higher pay job

• No need to pay back loan in full amount

• Exempt from taxes

• Lower interest rate on credit card or loan

How to maintain a good credit score.

• use cash to make purchases

• pay bills on time

• Never tell a lie

• Be kind and friendly to others

The information in your credit report is used to calculate a credit score?

• True

• False

Which is a better credit score?

• 872

• 976

• 625

• 750

Tags

CCSS.4.NBT.A.2

What is a check register used for?

• Organize deposits

• Organize withdrawals

• To write checks

• Organize all bank transactions

Do you pay interest on a credit card and on a loan?

• True

• False

Which of the following financial choices will affect your credit report negatively?

• borrowing money from a friend and never repay

• always late to work

• speeding while driving

• apply 5 credit cards within one-month