Credit Unit Review

Which of the following details would NOT be included in a Schumer Box?

• APR

• Late Penalty Fees

• Balance Transfer Fees

• Credit Score

What does APR stand for?

• Annual Percentage Rate

• Accelerated Points Rate

• Annual Points Rate

• Accelerated Percentage Rate

Which one of the following is NOT a credit reporting company?

• TransUnion

• Experian

• Equifax

• Credit Karma

You have NO power to change your credit report if it's incorrect.

• True

• False

What is the smallest amount you MUST pay towards your credit card balance each month?

• Current balance

• Total due

• Interest accrued

• Minimum payment

What is a 3 digit number, between 300-850, that summarizes your credit worthiness?

• APR

• Credit Score

• Minimum Payment

• SAT Score

Which of the following does NOT affect your credit score?

• Your Age

• Payment History

• Use of Credit

• Length of Credit History

The ______________ is the length of the loan. 

• principal
• interest rate
• term
• APR

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.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

________________ is something of value you promise to give up as repayment if you cannot repay the loan. 

• collateral
• loan
• installment
• credit