Credit 1
T/F: If you pay the full amount due on the credit card every month, you will owe interest.
False
This number, based on information in your credit report, indicates the riskiness of loaning money to you and the likelihood that you will make loan payments on time.
What is a credit score
What are 2 sources you can obtain credit?
Banks, Credit Unions, Online, Credit Cards, Finance Companies
What are 3 types of credit?
Credit Card, Car Loan, Mortgage, small business loan, payday loan
There are 2 men, they like checkers. They play five games of checkers. Each man wins the same number of games. There are no ties, explain this.
What is the 2 men weren't playing each other?
T/F: If you want to buy something but don't want to pay for it all up front, you can get an installment plan and pay monthly payments at no extra charge.
False.
True or False: Making more money raises your credit score.
False
What kind of loan is more risky, secured or unsecured?
Unsecured
A plan where I can start paying off an item and put it on hold, then come pick it up when I've paid it off.
What is a Layaway Plan?
The only team in NFL history to neither host nor play in the Super Bowl.
What is the Cleveland Browns?
Explain what a Grace Period is and the usual amount of time that is provided on credit card payments.
The number of days you have before a credit card starts charging you interest on your new purchases. Usually 25-30 days.
What is the 3 letter acronym stand for for the interest rate, expressed per year, applied to your purchases?
APR (annual percentage rate).
What happens if you pay your credit card balance before the due date?
You will not be charged interest
Give 2 examples of how credit cards are good.
Build Credit, Combine monthly payments into one payment, cashback benefits
What is BMW?
David’s parents have three sons: Snap, Crackle, and what’s the name of the third son?
David