Components
Does making late payments raise or lower your credit score?
It lowers it.
No.
Would you rather spend a night in a haunted house or a creepy cemetery?
Explain
Consolidate your credit debt.
How does your credit score affect your ability to borrow money?
It can lead to higher interest rates.
What character from Seinfeld was Mrs. Shapiro at Halloween?
Elaine!
Does paying early help your credit score?
Nope! Just on time!
Should you consider secured credit cards?
Yes. Especially if never borrowed before or historically bad credit.
Who is Shap's celebrity crush?
McDreamy DUH!
Does checking your credit score hurt your credit?
No. But you do have to pay for a credit report if you order more than 1 a year.
What is one of the components of a credit score?
Payment History, Length of Credit History, New Credit, Types of Credit Used, Amounts Owed.
Does paying your utilities on time help your credit score? Why?
No it doesn't because not all utility bills are reported to credit bureaus.
Should you co sign somebody else's credit card?
Nope! NOT AT THIS AGE! Maybe as a parent/guardian
VOMIT (hairy is a close second)
What is a credit score?
A number assigned to a person that indicates the capacity to repay a loan.
What is the scoring system of credit?
Fico.
Does closing credit cards help raise your score?
No.
Should you apply for multiple credit cards at the same time?
No. Not unless you are running away from home (JUST KIDDING)
What is does APR stand for?
Annual Percentage Rate
Would you rather be in debt the rest of your life or live on $200 a week? Explain
Answers please....
What is the ideal percentage of credit used on a monthly basis?
Ideally, 10-20%.
Who loves Reeses Peanut Butter Cups
Ms. Shap
If you are concerned about your credit, should you pay your rent or your credit card bill?
Your credit card bill. Higher interest and you can talk to your landlord.
Can you get a credit card at 16 without a co signor?
NOPE!
Would you rather have $1,000,000 now or $50,000 a year for the rest of your life? Explain
Various answers.