Introduction to credit

These are the most common types of credit. Choose all that apply.

• Prepaid Card

• Car loan

• mortgage

• student loan

• Major Credit Card

What is a credit card?

• The ace of diamonds

• A large plastic card designed to ruin consumer's finances

• A small plastic card issued by the government attached to a line of credit

• A small plastic card issued by a bank and attached to a line of credit

A fee paid by a borrower to the lender for the use of borrowed money.

• bills

• interest

When using credit, the purchase amount becomes what once the payment agreement is made?

• Loan

• Debt

• Mortgage

• IOU

Which of the following is NOT a type of credit?

• Loans

• Debit Cards

• line of credit

• Capital One

Credit is....

• giving you more spending money

• increasing your income level

• borrowing tomorrow's money today

• free money that you do not have to pay back

There is only one type of credit.

• True

• false

When you pay your credit card balance each month, you are called

• convenience user

• revolver

• borrower

• deadbeat

What is borrowed money that you can use to purchase goods and services when you need them.

• Debit

• Loan

• Credit

What is debt?

• Another word for death

• Something, typically money, that is owed or due

• A loan on which you do not have to pay interest

• That which is incurred during childhood and consummated in college

Tags

CCSS.RI.11-12.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.9-10.4