Credit

What should you NOT use a loan to purchase?

• A house

• Tuition for higher education

• Airline tickets to your dream vacation

• A car

Which item is important to consider when selecting a credit card

• Annual Perecentage Rate (APR)

• Credit limit

• The look of the credit card

• Both APR and Credit limit

What is NOT a benefit of having a good credit score?

• When you need a loan, you'll have more loan offers to pick from

• You'll get better interest rates on your loans

• You'll get more job offers

• You'll get accepted to better education institutions.

Not managing your debt wisely can result in ..

• An increase in your credit score

• A decrease in your credit score

• Inaccessible credit score

• No change in your credit score.

The purchase via credit usually is imposed with interest

• false

• true

• idk

A fee that a bank, credit card, or other lender charges for the opportunity to purchase something and pay for it over time is called:

• Interest

• Dividend

• Credit

• Finance Rate

Credit means you ________now and ________ it back later.

• Borrow, Pay

• Pay, Borrow

• Pay, Pay

Types of credit include: Credit card, Installments, Mortgage and

• debit card

• rewards card

• Student Loans

What is the best way to manage credit and debt?

• use rewards

• spend now worry later

• Make big purchases

• set goals and budget

The credit company can charge interest if the credit card bill is not paid in full by the due date.

• True
• False