Soph AOF test #2

What is credit?

• Credit is an agreement to receive a good or service now and then pay for it later.

• Credit is a disagreement to receive a bad or service now and then pay for it now.

• Credit is a way to gain credit score

• Credit is a way to receive money and not paid debt (only way to get money)

According to the Federal Reserve, how much credit card debt does the average household have?

• According to data from the Federal Reserve, the average household has nearly $3,456,743,234,323,244,434,233

  in credit card debt

• According to data from the Federal Reserve, the average household has nearly $6,000,000

  in credit card debt

• According to data from the Federal Reserve, the average household has nearly $100+

  in credit card debt

• According to data from the Federal Reserve, the average household has nearly $6

  in credit

What is debt?

• Debt refers to the money you have to pay the state

• Debt refers to the amount that is owed as a result of paying your tax collector the money.

• Debt refers to the amount that is owed as a result of borrowing.

• Debt refers to the amount that is taken from a person after stealing the money.

What is one of the most common form of household stress caused by?

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by a low credit score.

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by a lost of a household in the first place.

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by a credit card being lost since 98% of lost credit cards cannot be brought back with the money that person had before.

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by debt.

What is one of the most common form of household stress caused by?

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by a low credit score.

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by a lost of a household in the first place.

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by a credit card being lost since 98% of lost credit cards cannot be brought back with the money that person had before.

• Aside from the financial cost of credit, there is also an emotional side. One of the the most common form of household stress is caused by debt.

What is the simplest form of debt?

• A basic loan is the simplest form of debt

• A basic loan is the simplest form of household stress

• A basic loan is the credit score dropping way down when not paid

• A basic loan is the simplest form of homelessness

What is the simplest form of debt?

• A basic loan is the simplest form of debt

• A basic loan is the simplest form of household stress

• A basic loan is the credit score dropping way down when not paid

• A basic loan is the simplest form of homelessness

What are some examples of good debt?

• ● Gained money

  ● Credit Card

  ● Retail Credit Card (best types of credit cards)

  ● No Loan

  ● Expired Loans

• ● Debt considered good when goal is increasing your future income

  ● Mortgages

  ● School Loans

  ● Business Loans

  ● Real Estate Loans

• ● Debt considered good when items bought on credit go down in value

  ● Credit Card

  ● Retail Credit Card (store credit cards ex. Macys)

  ● Auto Loan

  ● School Loans

• Debt is always considered bad

What are some examples of bad debt?

• ● Gained money

  ● Credit Card

  ● Retail Credit Card (best types of credit cards)

  ● No Loan

  ● Expired Loans

• ● Debt considered good when goal is increasing your future income

  ● Mortgages

  ● School Loans

  ● Business Loans

  ● Real Estate Loans

• ● Debt considered good when items bought on credit go down in value

  ● Credit Card

  ● Retail Credit Card (store credit cards ex. Macys)

  ● Auto Loan

  ● School Loans

• Debt is always considered bad

What are the debt categories?

• Loans are the only category

• Loans, credit cards and debts

• Strict loans, credit cards, secured loans, secured debt, fixed rate loans and no rate loans.

• Installment loans, revolving credit, secured debt, unsecured debt, fixed rate loans and variable rate loans.