Credit Review

​ (a)   ,​ (b)   , and​ (c)   are common examples for lines of credit.

• Mortgages
• auto loans
• credit cards
• personal loan
• home equity loan

How many different lines of credit does the typical person in the United States have?

• 1 - 2

• 3 - 4

• 5 - 7

Having debt is a ​ (a)   thing to have if it is used​ (b)  

• good
• correctly
• bad
• unknowingly

Paying back a loan is ______ than paying cash.

• more expensive

• cheaper

• the same

Organize these options into the right categories

Groups:

(a) Appear on Credit Report

,

(b) Not Appear on Credit Report

• Social Security Number
• Income level
• Account status

• Inquiries

• Personal identification numbers
• Payment history

• Name

• Account history

• Types of credit

• Address

• Rental payment history
• Medical records
• Employment history
• Credit limit

What is a factor that determines your credit score?

• Payment History

• New Credit

• Length of Credit History

The advantage of taking a loan out for a shorter period time is ___?

• Easier to get a loan

• You save a lot money

• Lower monthly payment

Which type of credit should be used when you want to buy whatever you want?

• Mortgage

• Auto loan

• Credit card

What is the main reason for a credit report?

• Check if you can pay your lines of credit on time

• Check to verify employment

• See how much credit you have

A goal to have on your credit report is to have ​ (a)   appear in your account history.

• OK
• 30
• 60
• nothing