credit card

It may be very hard to get a loan if you have a .

• poor credit score

• small bank balance

Tags

CCSS.RI.11-12.4

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

On a credit card bill, the is the least amount of money you must pay.

• available credit

• minimum payment due

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

When you purchase something with a credit card, you .

• automatically improve your credit score

• buy it now and promise to pay for it later

• pay for it now but receive it later

• decrease your debt

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

If you have good credit, you .

• will never have to borrow money

• have never paid back money you owe on time

• are more likely to be denied a loan

• have a history of paying back money you owe on time

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

CCSS.RI.8.3

What is a minimum monthly payment?

• the minimum annual percentage rate on credit card

• the minimum amount on your credit card bill you need to pay each month

• the minimum you must purchase with your credit card each month

• the minimum interest you rack up each month

Tags

CCSS.7.RP.A.3

Billy has bad credit. He likely .

• always paid his whole credit card bill on time

• doesn't have a credit card and has never borrowed money

• will be able to make a large purchase, like a car

• will have no hard time getting approved for loans

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

Cynthia hasn't established any credit at all. Which of the following is TRUE?

• She has a high chances of getting approved for loans

• She will always owe interest on her credit card bill

• She will have an easy time buying her first home

• Banks won't know if she's financially reliable

Tags

CCSS.RI.11-12.4

CCSS.RI.5.10

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

Kimberly pays her entire balance every month. She .

• never owes interest on her purchases

• never has a principal of $0

• likely has bad credit

• pays more than 100% in interest on her purchases

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

CCSS.RI.8.3

Jonas is still paying off a purchase he made many months ago. This is most likely because .

• Jonas only makes the minimum payment every month

• his credit card company is tricking him

• Jonas pays his entire balance every month

• his APR is 0%

Tags

CCSS.RI.11-12.4

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

In Month 1 of this loan it accounts for $1,041.50 of the payment. In Month 350, the debtor only need to pay 59.60 towards this amount. The cost of borrowing money is referred to as _______________.

• Interest

• Annual Percentage Rate

• Credit

• Credit Line