3-5 Credit cards

This card is linked to a checking account

• Credit

• Debit

• Both

Users borrow money on the card and pay it at a later time

• Credit

• Debit

• Both

Purchases are subject to interest charges if the balance is not paid in full

• Credit

• Debit

• Both

Users can sometimes be responsible for an annual fee or other penalties

• Credit

• Debit

• Both

Credit Cards are great ways for you to get cash from a bank ATM machine

• 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 another name for credit score?

• Financial Score

• Pico Score

• Fico Score

• Fido Score

The cost you pay each year to borrow money, including fees, expressed as a percentage

• APR

• Taxes

• IRS

• Bank Fee

Credit scores can range from

• 0-300

• 0-850

• 300-850

• 300-950

It can increase your credit score if you apply for a bunch of different credit cards in a short period of time.  True or False

• True

• False