Lessons 7 & 8 Credits & Credits Cards

What is a credit score?

• What lenders use to see if you are able to pay back credit
• 3 numbers
• What your score on a test is that was worth credit

What is a credit score?

• What lenders use to see if you are able to pay back credit
• 3 numbers
• What your score on a test is that was worth credit

What is your job as a borrower?

• To pay back your loans promptly
• To borrow as much as humanly possible
• Spend your loans and not pay them back

What is credit?

• When one party provides money/resources to another party with the intention money gets paid back
• What you get when you finish a test and Mr. Beltz puts it in the gradebook

What is credit?

• When one party provides money/resources to another party with the intention money gets paid back
• What you get when you finish a test and Mr. Beltz puts it in the gradebook

Which of the following is an ADVANTAGE of credit?

• No need for carrying cash
• Annual Fees
• Interest Rates

What type of credit is a credit card?

• Single-Payment
• Installment Credit
• Revolving Credit

What type of credit payment would CFU be?

• Revolving Credit
• Single-Payment
• Installment Credit

What does APR mean?

• Average Person Ratio
• Annual Percentage Rate
• Always Poke Robots
• Apples Peas & Rice

What type of loan does Mr. Beltz have to pay off

• Car
• Home
• Phone
• Student