Credit Mistakes
What is a credit card mistake?
Not checking your credit score often enough, missing payments, taking on unnecessary credit and closing credit card account.
whats the definiton of consumers?
a person who purchases goods and services for personal use
how can you keep track of how much you're spending.
Use budgeting or expense-tracking apps
Alan got a random call from his bank asking for his bank account number.
What would you do in this situation?
Call his bank provider to inform them about it.
how many players are on the court for volleyball?
6 players are needed
what is the biggest mistake you can make when using a credit card?
not paying on time
whats the definiton of mortgages?
an argeement between you and a lender that gives the lender the right to take your poperty if you don't repay the money you've borrowed plus interest
What does credit management do.
deciding which customers to extend credit to and evaluating those customers' creditworthiness over time.
Your credit card got stolen. What would you do?
Call my bank to freeze the card.
how many players are needed for a basketball game
5 players
how do you avoid a credit card mistake
don't overspend
what is APR?
ARP is annual percentage rate, the yearly interest rate.
What is credit management.
the process of deciding which customers to extend credit to and evaluating those customers' creditworthiness over time.
Jim left his wallet at the store that contained his social security and his credit card. What would you do?
Call the bank, call police, and call the store.
what is the '' american anthem''?
the star-spangled banner
what is the number one credit killing mistake?
paying credit or loan payments late
what is the definition of interest rate?
the amount a lender charges a borrower and is a percentage of the principal—the amount loaned.
what is a credit managment job ?
Analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.
TImmy decides to close one of his account, what would he do to the card?
Cut it up and throw it away.
whats the national flower of japan?
cherry blossom
what is the 2/3/4 rule for credit cards?
applicants are limited to two new cards in a 30-day period, three new cards in a 12-month period and four new cards in a 24-month period.
whats the definiton of a co-signer
someone who signs a loan with another person (borrower) and agrees to pay the loan if the borrower is not able to repay it.
What is another name for credit mnanagement?
credit control
Dan, has to many credit cards, and its hard for him to maintain all of it. What would you do if you were him?
Close some of the accounts and leave 1 or 2 of them so that its easier to maintain.
what is the smallest bone in the human body?
the stapes located in the middle ear