Loans
A loan you take out for a house is called a...
+50 pts if you spell it right
Mortgage
"A payment card that gives you access to revolving credit, allowing you to make purchases up to a limit and repay over time."
Credit Card
"Something owned of value, offered as security on a debt"
Collateral
What year did the hit animated 2006 film Over the Hedge release to cinemas worldwide?
2006
"A type of loan you borrow from a creditor to help you buy a vehicle"
You MUST use the right wording
Auto Loan
"A three digit number used to represent a consumer's trustworthiness with credit"
Credit Score
Would you rather have a higher or lower utilization rate with your credit cards?
Lower; it will increase your credit score
DAILY DOUBLE
What is the name of the squirrel in the hit animated 2006 film Over the Hedge?
Hammy
"The difference between the amount owed and an asset’s value"
Equity
What is our "Golden Rule" in regard to credit cards?
DON’T SPEND MONEY YOU DON’T HAVE
Which type of Credit is used when using a Credit Card?
Revolving Credit
The hit animated 2006 film Over the Hedge is based on a newspaper comic strip by what name?
Over the Hedge
What asset do people commonly have negative equity on?
+50 if you know why
Vehicles
Because they depreciate as soon as you buy them, especially buying new
What does a credit bureau do?
Collects credit information and makes it available to creditors
What are three of the five things that affect your credit score?
Paying Bills on Time (35%)
Amounts Owed / Utilization (30%)
Length of Credit History (15%)
Credit Mix (Managing Lines) (10%)
New Credit (Hard Inquiries) (10%)
Who voices the squirrel in the hit animated 2006 film Over the Hedge?
Steve Carell
What is one pro and one con of taking out a 15-year mortgage over a 30-year mortgage?
Pros:
Lower Interest
Loan is Paid off faster
Cons:
Larger monthly payments
What are five things that your Credit Score can affect your ability to get?
Mortgages & Auto Loans
Apartments & Rentals
Credit Cards
Credit Limits
Personal Loans
Insurance Rates
Phone Plans
What are the names of ALL THREE credit bureaus?
Equifax
Experian
TransUnion.
What is my mother's middle name?
Christine