Consumer | VL #10 INFOGRAPHIC Credit for Young People
Passage
•
Financial Education
•
9th - 12th Grade
•
Hard
Emily Mulholland
FREE Resource
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
SECTION 1: Credit is Useful
Which is NOT a primary benefit of using credit?
Convenience
Emergency preparation
Earning interest
Future planning
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What percentage of people prefer using credit over cash or debit?
20%
40%
60%
70%
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Good credit can impact your ability to obtain which of the following?
Health insurance
Mortgages
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
SECTION 2: How Young People Get Credit
Which is NOT a way in which young people can build credit?
Avoiding all credit use
Be added as an authorized user on a parent's credit card
Payoff interest on unsubsidized student loans while in school
Get a secured credit card
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a secured credit card work?
It requires no deposit & offers unlimited credit.
It requires a cash deposit that acts as collateral & sets your credit limit.
It is linked to a checking account for direct withdrawals.
It works like a debit card with no credit limit.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might a co-signer on a credit card application be helpful for a young person?
A co-signer can improve approval chances & help build credit history.
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