Credit Reports & Scores
A three-digit number (ranging from 300-850) based on an individual's credit history detailed in a credit report.
What is a credit score or FICO score?
Expenses that can change from month to month.
What are flexible or variable expenses?
The money you earn on the balance in your savings account.
What is interest?
The maximum amount that a person may charge on their credit card.
What is credit limit?
The name of the scam where you get a call from someone claiming to be your grandchild and they need bail money
What is grandchild scam?
A company that collects information about how individual people manage their credit (e.g. Trans Union).
What is a credit bureau?
When your expenses exceed your income.
What is a deficit or shortfall?
Money set aside in a savings account for unanticipated expenses or loss of income.
What is an emergency fund?
The act of transferring debt from one credit card to another.
What is a balance transfer?
The crime of obtaining someone else's personal data and using it for financial gain or to de-fraud or deceive.
What is identity theft?
The number of credit reporting companies.
What is three?
The income you bring home from your paycheck or social security.
What is net income?
Name of the fee charged when a person writes a check or debits an amount over the amount they have in their account.
hat is Not Sufficient Funds (NSF) or overdraft fee?
APR stands for...
What is Annual Percentage Rate?
A precautionary measure that stops all access to your credit report.
What is a security freeze?
The number of free credit reports your are entitled to every 12 months.
What is three? Or What is one from each credit bureau?
Writing down every item you spend money on.
What is tracking your spending?
CD stands for this type of savings vehicle.
What is a Certificate of Deposit or CD?
Using a credit card to obtain a cash loan.
What is a cash advance?
What is a scam?
The number of years a negative item stays on your credit report.
What is seven?
The amount of money needed to sustain a certain level of living, including basic expenses. Often used when comparing how expensive it is to live in one city versus another.
What is cost of living?
The amount of money the FDIC insures for each bank account.
What is $250,000?
The amount of time you have to pay your full balance before interest is applied.
What is a grace period?
Computer software that protects your personal information by blocking it from an outside source.
What is a firewall?