Exit Ticket 4/14/22

A person who takes and uses a sum of money under an

agreement to pay it back?

• Borrower

• Lender

How long does negative information remain on a credit report?

• 2 years

• 3 years

• 7 years

• forever

A credit report helps lenders decide if a borrow is financially responsible

• True

• False

Why is it important to establish positive credit history?

• Higher credit scores result in lower interest rates on loans

• You are more likely to be offered a loan by a bank

• Positive credit history results in higher credit scores

• All of the above

What is important in establishing good credit?

• Making payments on time

• Being late on payments

• Spending 100% of your credit limit

• Missing a payment