What is Dave Ramsey’s opinion on credit cards?

• They're fine if you pay them off monthly

• Avoid them completely

• Good for building wealth

• Only use them for emergencies

What is a common myth about credit scores?

• They are required for renting an apartment

• They indicate wealth

• They are essential for financial success

• They measure how smart you are with money

Why does Ramsey say you don’t need a credit score?

• You can’t live without one

• It helps get free flights

• You can live debt-free and pay cash for everything

• It protects you from identity theft

What is a credit report?

• A report on your monthly income

• A history of your debt and payment habits

• A summary of your savings

• A form to apply for a loan

Which of the following is a sign someone may be falling into a credit trap?

• Paying off credit cards in full every month

• Making only the minimum payments

• Using cash for all purchases

• Having a savings account

Why do credit card companies offer rewards?

• To help people save

• To teach good money habits

• To encourage spending and borrowing

• To support community banking

According to Ramsey, what should you use in place of credit for emergencies?

• A personal loan

• An emergency savings fund

• A balance transfer card

• Borrowing from friends

What is one emotional impact of being in debt?

• Confidence

• Stress and anxiety

• Excitement

• Motivation to earn more

What is Ramsey’s view on building credit to buy a house?

• You must have good credit

• Get a credit-builder loan

• Save and pay cash or use manual underwriting

• Finance it through a credit card

What is the danger of using credit for everyday purchases?

• It makes budgeting easier

• You don’t feel the spending and overspend

• You earn cashback

• It builds interest in your savings