Building Credit
The following financial products will help you build a credit history EXCEPT... 1) Debit card; 2) Secured credit card; 3) Home mortgage; 4) Credit card
What is Debit card?
where does tax go
schools etc
An advantage of using a credit card.
What is paying for emergencies? Or phone or online orders? Or safer than carrying cash? Or can dispute charges, if necessary?
TRUE OR FALSE: With debit cards, you're spending your own money at point of sale, while with credit cards, you're promising to pay back the money eventually
What is TRUE?
what is the ato
australian tax office
A disadvantage of using a credit card.
What is overspending and getting into debt? Or high cost (interest)?
T or F. 550 is a good credit score?
False
what is tax evasion
failure to pay tax
How could you raise your credit score?
TRUE OR FALSE: Debit cards allow you to draw funds directly from your checking account.
What is TRUE?
what is gross pay
before tax
Why do banks want you to sign up for a credit card?
Interest payments on unpaid balances
What is the worst and best possible credit scores?
300 and 850
what is net pay
after tax
What's on a credit report?
Answers Vary