Credit

Which of the following affects your credit score?

• making payments on time
• making payments late or missing a payment
• having several credit cards and 2 are maxed out
• all of the above will impact my credit score

What is the highest FICO credit score a person can receive?

• 300
• 850
• 1050
• 700

Credit Card A: has an introductory rate of 1.9%; After 6 months the APR jumps to 11% Credit Card B: has an introductory rate of 0%; After 6 months the APR jumps to 23% Credit Card C: has an introductory rate of 0%; After 3 months the APR jumps to 17% * You are applying for a credit card to use for your month-long trip to China. You have budgeted $1000 for the trip. You have looked at your budget and you are confident that you will be able to pay off your credit card for the trip in 5 months. What credit card offer is best for this particular purpose?

• Credit Card A
• Credit Card B
• Credit Card C

When you go to select financing for a loan, you will be looking at:

• Length of Loan
• Interest Rate
• Amount of Monthly Payments
• All of These

When calculating one’s credit score, ______________ is the largest percentage category of how an individual’s score is calculated:

• Payment History
• Credit History and Length
• Outstanding Debt
• Pursuit of New Credit

In addition to his home, Juan’s boat, Ford Explorer, and his extensive baseball card collection would be viewed as _____________, property pledge as repayment of a loan, by the bank if we were to default on his new mortgage loan that he received:

• Credit History
• Collateral
• Character
• Capacity

Which of the following information can you find in a Schumer Box? (Check all that apply)

• APR (Annual Percentage Rate)
• Fees and Penalties
• Current Balance
• Minimum Interest Charge

Which of the following information can you find on your credit card statement? (Check all that apply)

• summary of account activity
• current balance
• minimum payment due
• collateral

Which of the following is NOT a credit reporting agency

• Experian
• Equifax
• Transunion
• Expedia

All of the following are good reasons Arianna could use a credit card except:

• Purchasing furniture for her house
• Establishing a good credit rating
• Overspending at Macy’s
• It helps her save money by offering her a discount at a store she regularly shops at.