SPECIAL CATEGORY
What does the acronym "SOCU" stand for?
Student Operated Credit Union
What is a Credit Union
Group of people that include customers that focus on needs.
What is a Credit Card
Payment Tool
What's a Credit Score?
Summarizer Of Your Credit Risk (Likeliness of payment.)
Where is the SOCU located?
E Building Workroom
Who/What does a Credit Union Serve For?
A specific group of people
When would you usually use a Credit Card? (5 options)
Shopping, Traveling, Bills, Emergencies, and/or Building Credit
How is Credit Score affected? (Minimum 2-3 must be listed.)
Payment history, Amounts Owed, Length Of Credit History, New Credit, and/or Credit Mix
What are the requirements to apply for an account at the SOCU?
Government State ID, $5, Social Security Number
Verify Identity (Via Government-issued ID), Potentially a Second Form of Identification, and Where you live, Work, Worship, and/or Attend school
Name 3-5 brands of Credit Cards
Visa, American Express, MasterCard, Chase, Barclays, Discover, Capital One Bank
Does waiting on Late Payments affect your Credit Score for the long or short term?
Both
How long is the SOCU open for? (MUST GIVE AMOUNT OF TIME.)
30 Minutes (Lunch)
Who is the person who visits the Credit Union Annually?
Mr. Brian
Name 5 Stores that have a Credit Card (Name 10 For 2x Points.)
Walmart, Amazon, Costco, Kroger, Home Depot, Target, Lowe's, Apple, IKEA, Best Buy, TJ Maxx, Starbucks
How Long does a Late Payment Stay on your Credit Report?
7 years from the original date of late payment(s)
What is a "FOM" in the Context of a Credit Union?
Field Of Membership
How does a Credit Card affect you as a Customer? (Make Your Own Example.)
Provide an Example.
What is the 'usual' or 'set' Credit Score you start with when you get a Credit Card? (Hint, it's NOT 0.)
500+-700+ or Depending on Usage