Financial Literacy

Front

Financial Literacy is having the knowledge, understanding, and skills necessary to become an effective consumer.

Back

True

Front

Using a credit card allows you to...

Back

purchase something now and pay for it later.

Front

Identify the item that is not a type of credit: savings account, college loan, credit cards, car loan.

Back

savings account

Front

Types of credit: car loan, college loan, home mortgage loan, checking account

Back

checking account

Front

What should you find out before signing up for a credit card?

Back

All of these: if there is an annual fee, what the interest rate is on purchases, what types of late fees could be charged.

Front

A credit card company usually has a grace period for purchases. A grace period is...

Back

the time period after you make a purchase until the time the interest starts to get charged.

Front

When you sign up for a credit card you will get a lengthy document explaining things, it is the

Back

terms of agreement

Front

Overspending and accumulating too much debt can ruin your credit score.

Back

True

Front

Annual fee

Back

When a credit card company charges you a fee each YEAR

Front

Credit scores range from _____ to _____.

Back

300, 850