Debit and Credit Review

Which of the following refers to a bank that can only be accessed online and has NO physical branch that you can go to?

• Online Banking

• Internet Bank

• Mobile Banking

• Capital One

A _ is a not-for-profit financial institution owned by its members.

What is the fee paid or received for the use of money?

• Late Fee

• Overdraft Fee

• Interest

• Annual Fee

These are the pros of having a _ card:

Operates like a check or cash.

No interest charges.

• Credit

• Debit

What is the difference between a credit score and a credit report?

These are the fees of having a _ card:

Flexibility to make purchases anytime and anywhere.

Grace period is usually 25 days.

• Debit

• Credit

_ is a court process and involves a lawsuit in which a bank or mortgage company seeks to take an owner’s property to satisfy a debt.

Which of these is NOT one of the three credit reporting agencies?

• Experian

• Expedian

• Equifax

• TransUnion

Which of the following would be a way to help build a strong credit history?

(Hint: There's more than one correct answer.)

• Pay your bill on time.

• Open multiple credit cards in one day.

• Exceed or come very close to your credit limit each month.

• Not spending more than you can afford.

What is the purpose of a credit score?