WorksheetsCredit Ready Quiz!
Total questions: 11
Worksheet time: 6mins
What affects your credit score the most?
Your age
How much money you spend
Paying your bills on time
How much money you make
How can you check your credit report?
Call your bank
Ask your friend
Check online using your credit card or bank app/website
Wait for your credit card bill
What are some benefits of having a good credit score?
Getting approved for loans
Renting an apartment more easily
Lower interest rates on loans and other credit cards
All of the above!
What does “carrying a balance” mean?
Paying your credit card bill in full
Missing a monthly payment
Owing money on your credit card
Your interest rate going up
How do people get into credit card debt?
They spend more money than they can pay back
They have multiple credit cards
They never use their credit card
They co-sign on a loan for a friend
How can you avoid high-interest debt?
Pay ONLY the minimum bill each month
Pay the full balance each month
Only open 1 credit card
Never miss a monthly payment
What is a safe way to start building credit?
Get multiple credit cards
Avoid all credit cards
Spend as little money as possible on your credit card
Use 1 credit card and pay it off each month
When should you open your first credit card?
As soon as possible
Only when you’re rich
When your friends start getting credit cards
When you can pay it off reliably
What is a secured credit card?
A card secured by money that you pay upfront
A card with a PIN
A card with extra security features
A card with low interest
Should you co-sign a loan for a friend?
Yes, always
No, never
Only if they are family
Only if you trust them AND you can afford to pay if they don’t
You can’t make your credit card payment this month. What should you do?
Ignore it and pay next month
Call your credit card company
Open another card and use it to pay
Close the credit card
