Section 3, 4 and 5
Flashcard
•
Business
•
9th - 12th Grade
•
Hard
Wayground Content
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13 questions
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1.
FLASHCARD QUESTION
Front
As a borrower you have certain responsibilities to the companies issuing you credit. Which of the following is your responsibility? Repay the full debt, Understand the terms of the agreement, make payments on time, These are all responsibilities of the borrower
Back
These are all responsibilities of the borrower
2.
FLASHCARD QUESTION
Front
Maintaining a reasonable amount of unused credit will create
Back
Positive credit
3.
FLASHCARD QUESTION
Front
When you start you have a perfect credit score because you have done nothing to damage it
Back
False
4.
FLASHCARD QUESTION
Front
Which of the following are NOT ways to build credit?
Options:
Use your debit card responsibly,
become an authorized user on someone else's credit card,
take out a federal student loan
Back
Use your debit card responsibly
5.
FLASHCARD QUESTION
Front
Which of the following is a benefit of having good credit?
lower interest rates on loans,
lower insurance rates,
lower interest rates on credit cards,
all are benefits of having good credit
Back
all are benefits of having good credit
6.
FLASHCARD QUESTION
Front
How long will information remain on your credit report?
Back
7 years for any late payments
7.
FLASHCARD QUESTION
Front
How long will Late or missed payments remain on your credit report?
Back
Seven Years
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