Mastering Credit 102

What should you do before trying to build your credit if you have negatives on it?

• Start using trade lines

• Remove the negatives

• Increase your spending limit

• Apply for new credit cards

What is a trade line?

• A type of loan

• A credit score monitoring service

• A secured credit card

• A piggyback off someone else's credit

Which site offers an automatic $5,000 primary?

• Self

• My Jewelers Club

• Huntington Chase

• New Coast Direct

What is the benefit of combining trade lines and primaries?

• It helps you get higher limit credit cards

• It reduces your debt

• It increases your income

• It lowers your interest rates

What is a secure credit card?

• A card that requires a deposit

• A card with no spending limit

• A card with a high interest rate

• A card that offers cash back

Why is it important to use auto payment for credit cards?

• To avoid late fees

• To increase your spending limit

• To get cash back rewards

• To reduce interest rates

What should you do if you have bad credit with inquiries and debt?

• Increase your spending

• Ignore it

• Remove the negatives

• Apply for more credit cards

What is the benefit of having a high credit limit?

• More spending power

• Better rewards

• Lower interest rates

• Higher trust from banks

What is the importance of credit history?

• It shows your debt

• It shows your trustworthiness

• It shows your spending habits

• It shows your income

What is the first step to take if you have no credit score?

• Reduce your spending

• Increase your income

• Get some primaries

• Apply for a loan