Charge It!
If your first credit card has a high interest rate, how can you avoid paying interest?
By paying off the full balance every month, you can avoid paying any interest on your purchases.
If you slip on an icy sidewalk and break your ankle, what type of insurance would pay for your hospital visit?
Health insurance typically covers doctor and hospital visits.
You are buying a 2018 Chevy Malibu for $15,999. Would you be better off getting financing through the dealer or through your bank/ credit union?
You are almost always better off financing a vehicle through your BANK or CREDIT UNION.
Buying with which of these will have no affect on your credit score: Debit Card, Credit Card, Prepaid Card, or a Gift Card?
Buying with a Gift Card will have no affect on your credit score.
How can using a credit card affect your credit score?
Using credit reasonably, by making payments and not using more than 30% of your available credit, can make your credit score go up.
Using credit poorly by missing payments or using 100% of your credit can make your score go down.
If you slip on an icy sidewalk and can't work for 3 months, what type of insurance would replace your lost income?
Long term disability insurance will replace lost wages if you can't work because of injury or illness.
You are buying a 2020 Audi Q7 for $29,999. The interest on your loan is 14.99%. Will you pay more if you take four years to pay it off or three years?
With any loan, you will pay less if you pay off the loan sooner.
Paying the loan off over four years will cost you more than paying off the loan in three years.
Which card is usually part of your checking account: Debit Card, Credit Card, Prepaid Card, or Gift Card?
A Debit Card is usually given as part of every new checking account.
When does the credit card company make money off of you?
The credit card company makes money off of you when you don't pay your balance in full at the end of the month.
What type of insurance can help you replace your things if your apartment is robbed or destroyed?
Property insurance, renter or home owners, will replace stolen or damaged things.
You are buying a 2023 GMC Denali Sport for $50,999. Will a $10,000 down payment make your interest rate on the loan go up or down?
A car loan is a secured loan, the vehicle is the collateral. Putting down $10,000 should make the bank or CU more comfortable loaning you the other $41,000. Your interest rate should go DOWN.
Which type of card is pre-loaded with money and can only be used at certain stores or websites: Debit Card, Credit Card, Prepaid Card, or Gift Card?
Gift Cards can be purchased in different amounts but can only be used at certain stores or websites.
What are some things you can do to quickly reduce the balance of your credit card?
Answers will vary and may include: using the card less, making more than the minimum payment, or asking for a lower interest rate.
If you slip on an icy sidewalk and die, what type of insurance will pay your family?
Life insurance will pay your beneficiary should you die.
You are looking at buying a Dodge Charger SRT Hellcat for $68,999. Will the insurance be higher or lower than the $160/ month average for young drivers in Ohio?
You are a young driver in a very expensive and very powerful muscle car... Your insurance will be MUCH higher than the average young person.
Which card is best if you are traveling or worried about being robbed: Debit Card, Credit Card, Prepaid Card, or Gift Card?
A Prepaid Card can be used just like a credit card without letting a thief take all the money in your checking account or hurting your credit score.
When might a credit card company increase your credit limit?
Answers may vary.
Your credit limit will often go up if you carry a balance and are making monthly payments. The credit card company wants to make more money off of you and may increase your credit limit.
They might if you ask for a higher limit.
What is the money you pay each month for insurance called?
You pay a Premium each month in order to be covered by insurance.
You are looking at a 2024 Mercedes-Maybach S 580 for $213,000... because you just signed a million dollar recording contract! If your new album isn't a smash hit, though, the party is over. Would it be smarter for you to write a check, get a four-year loan, or just lease it for a year?
With your future income uncertain, leasing this magnificent vehicle for a year and then giving it back is the smartest option.
Which card will charge you interest if you don't pay your bill at the end of the month: Debit Card, Credit Card, Prepaid Card, or Gift Card?
Only a Credit Card will let you spend money you haven't got and charge you interest for what you haven't paid back.