Fico Scores
What is the range of FICO Scores?
Range varies from 300-850
Smart habits by requesting and viewing credit report anually.
Credit Resources
Amount of money owed on a Credit Card.
Balance
Rule for managing your cards.
20-10 Rule
A card that is in use with your checking account.
Debt Cards
What is another name for a FICO Score?
Credit Score
Information that can stay in your credit report for up to 10 years.
Files for bankruptcy
Once a year cost of owning a Credit Card.
Annual Fee
Time period in which you have to pay your Credit Card with no interets.
A Grace Period
A card that you put money into and may only be used in certain places (Gift Cards).
Prepaid Cards
What is a good credit score range?
700-750
Information that stays in your credit report for up to seven years.
Late payments, foreclosures and repossesions
Maximum amount that can be charged on a specific card account.
Credit Line
You should not use the Credit Card for this, unless emergency.
ATM Withdrawl
What is another name for a Debit Card?
What is excellent credit range?
750-850
An agency that collects infromation from a customers credit usage.
Credit Bureaus
Interest rate offered by Credit Card issuers in the initial stages of a loan.
Introductory Rate
Minimum amount of money that you are required to pay on your credit card statement each month to keep you account good.
Minumum Monthly Payment
You must be 21 and older to apply for this card.
Credit Cards
Can lower your perceived risk to any lender?
A high FICO Score
States financial history and shows lenders or employers how well you manage money.
Credit Reports
Another name for a Credit Line.
Credit Limit
A banking service that allows you to link your checking account to your credit card and protects you from penalties.
Overdraft Protection
Card that is common is retail stores.
Prepaid Cards