WorksheetsThe Costs and Methods of Obtaining Credit
Total questions: 17
Worksheet time: 28mins
1-6.
Answer the questions below after watching the video
what three things can Kendra do to help her credit score?
apply for a secured credit card, a credit builder loan, or open a retail store card
All three require Kendra to do what?
dance in her kitchen
never pay anything
pay monthly payments
pay yearly payments
What happens when Kendra is capable of consistently paying her monthly payments?
How long is one term usually?
12 months
3 months
Who offers retail credit cards?
Which one would you rather invest in?
(a) is a new scoring technique, the first to be developed by three credit reporting companies.
the amount of money you must borrow and repay is called a (a)
What is the maximum percentage you want for your total income to be debt?
Draw your best dollar bill
5 C's of credit?
Character
Capital
Caution
Collateral
Capacity
Finance charge is calculated using APR. What does APR stand for?
Chocolate or vanilla ice cream?
Chocolate
Strawberry
Vanilla
Cookie dough
What is the best definition for APR?
It's everybody's favorite type of loan.
The cost of credit on a yearly basis, demonstrated as a percentage.
The cost of my mom trying to buy a beautiful apron for my father since father's day is coming up.
A form of security to help guarantee that the creditor will be repaid
payback
Collateral damage
yes.
Write your favorite financial literacy vocab term
Why do people choose long term financing?
Because they feel like it
It's easier to manage when it's long term
Because they want smaller monthly payments
Because smaller they payments want monthly
Changing rates in the banking system
higher down payment
Variable interest rate
interchangeable tax rate
Tax rate
Draw your favorite food
List why you could be rejected for credit
What is the minimum monthly payment trap?
Is hot dog a sandwich?
Yes
eh, maybe
absolutely not!
