Credit and Loans

What type of credit is a credit card?

• Single-Payment
• Installment Credit
• Revolving Credit

What does APR mean?

• Average Person Ratio
• Annual Percentage Rate
• Always Poke Robots
• Apples Peas & Rice

Tags

CCSS.6.RP.A.1

CCSS.6.RP.A.2

What is a credit score?

• a number between 300 and 850 representing your creditworthiness

• a statistical number that evaluates a consumer's creditworthiness and is based on credit history.

• Often referred to as a FICO score

• All of the above

My landlord can report my failure to pay rent to a credit reporting agency.

• True
• False

Tags

CCSS.L.11-12.6

CCSS.L.8.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.9-10.2D

Which of the following is TRUE about a credit report?

• It is a complete history of one type of credit you have

• Credit reports are maintained by the 5 main credit bureaus

• You can get a copy of your credit report for free

• You can get a credit report only when you're 21 years old

Your credit score is not configured off of which of the following:

• Payment history

• Amount of money owed

• Grades in School

• Length of credit history

Which is an exceptional credit score?

• 672

• 555

• 713

• 813

Tags

CCSS.7.NS.A.2C

To build a positive credit history, I should pay cash for all purchases.

• True

• False

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

What is a grace period?

• The time allowed to pay your balance with a low interest rate 
• The time frame to spend as much money as you can.
• The time allowed to pay your balance without being charged. 

What can you buy or get with a good credit score?

• House 
• Car
• Loan
• All of the above