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How to Get and Keep Credit

Authored by Mariam Mariam

Business

9th - 12th Grade

Used 3+ times

How to Get and Keep Credit
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

To determine an applicant’s capacity to pay, creditors will verify the applicant’s employment and income.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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According to the Truth in Lending Law, the lender must provide the borrower with the annual percentage rate

and all the finance charges of the loan.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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Credit card companies charge different fees for different services.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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To qualify for a low interest APR, consumers should

earn a lot of money

owe no money

pay their bills on time

have an advanced degree

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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All of the following are signs of credit trouble except:

wages being garnished

getting second- and third-payment notices

getting calls from bill collectors

making monthly minimum payments

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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In the context of this chapter, interest is:

the amount of money charged to borrow money

something that is intriguing

the amount of money a company pays a borrower to use their credit card

your curiousity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Credit cards:

come with a cost

always have the same interest rate

are available to everyone

allow credit card holders to pay less for merchandise

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