Consumer Credit

When you purchase something and you do not pay for it immediately, you are using ...

• debit

• asset

• credit

• FICO score

A person (or an organization) that extends the credit is called a ...

• debtor

• credit extender

• creditor

• mom

Everything you own. Included in your financial history when applying for credit.

• assets

• property

• earnings

• debts

Your ability to earn money now and in the future. Included in your financial history when applying for credit.

• credit rating

• earning power

• assets

• future investment

Your credit "report card". Included in your financial history when applying for credit.

• assets

• earning power

• credit rating

• progress report

The most common credit score, FICO score, ranges from ...

• 0 to 100

• 200 to 700

• 300 to 850

• 1 to 1000

If my FICO score is 600, and I am taking out a loan, would the interest my creditor charges me be high or low?

• High interest

• Low interest

The bank uses a ... to find out how prospective borrowers repaid their past debts.

• customer profile

• loan agreement

• credit agency

• budget

The other name for credit reporting agency is ...

• customer agency

• credit bureau

• FICO

• loan agreement

An initial payment made when something is bought on credit is called a ...

• Installment plan

• Credit purchase

• Monthly payment

• Down payment