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TC2--MSU Adulting: Credit Craze – Managing Your Credit Wisely

Authored by Rachael Tait

Special Education

9th - 12th Grade

10 Questions

TC2--MSU Adulting: Credit Craze – Managing Your Credit Wisely
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary difference between credit and debit?

Credit uses borrowed money; debit uses your own money

Debit uses borrowed money; credit uses your own money

Credit and debit are the same

Credit is used for online purchases; debit is used for in-store purchases

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of using credit responsibly?

Accumulating high-interest debt

Building a positive credit history

Overspending on unnecessary items

Ignoring credit card statements

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a credit report include?

Your credit score only

A list of your credit accounts and payment history

Only your current credit card balances

Your personal income and employment history

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can you check your credit report for free?

By contacting your bank

By visiting annualcreditreport.com

By calling the credit bureaus directly

By checking your credit card statement

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit score?

A number that predicts your credit risk

A list of your credit accounts

The amount of debt you owe

The number of credit cards you have

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor has the most significant impact on your credit score?

Length of credit history

Types of credit used

Payment history

New credit inquiries

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the recommended credit utilization ratio to maintain a healthy credit score?

50%

30%

70%

90%

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