Managing your card
Is it critical to your financial game plan?
Yes
Who are you borrowing from when you spend money on a credit card?
The credit card issuer which is a bank or financial intuition.
FICO scores range from?
300 to 850
What is something you should look for when choosing a credit card?
APR(Annual Percentage Rate)
What is another name for a debit card?
Check Card
Can it not be done when you consistently follow a few simple but very important guidelines?
No
If you are not 21+ what do you need in order to apply for a credit card?
an adult co-signer
A good FICO score is what?
700 to 749
When choosing a prepaid card you should…
Shop for one that has the lowest fees, doesn’t expire, and is accepted everywhere
Where does the money for a debit card come from?
Checking account
True or false: You should take advantage of secure online access to both your credit card and debit card accounts.
True
True or false: It's important to discuss your options with a parent or guardian.
True
An excellent FICO score is what?
750 or higher
ATM transactions and overdraft charges?
Two things you should look for when choosing a debit card
True or false, Debit cards have ATM transaction fees?
True
Will reviewing your monthly statements effect you negatively?
No, it will benefit you.
______ and ______ rates can vary from one card issuer and type of account to another.
Fees and interest
What are FICO scores used for?
FICO scores help lenders determine the credit risk associated with loaning you money.
A prepaid card will expire over time after 1 month of not being used?
No
What are two things to look for when choosing a debit card?
ATM transaction and overdraft charges
Being a good credit customer will benefit you. Yes or no?
Yes
Is it important to know how you’re going to use the credit card?
Yes
What is another name for FICO score?
Credit score
If you are looking for a low introductory rate to transfer an outstanding balance from another credit card you should…
Plan ahead. Make sure you can budget monthly payments that pay off the balance within the introductory rate time period. Always pay on time.
True or false, A gift card is a type of debit card?
False