Credit Scores
What is a credit score used for?
Determining the risk associated with loaning a person money.
One advantage of using credit.
What is convenience, emergencies, rewards, consolidate debts, make reservations, pay for large items over a period of time, building a good credit score, qualifying for low interest, etc
An account which allows for customers to make credit card purchases at a particular retail store such as Nordstrom or REI.
What is a retail/store credit card?
This person is depicted on the U.S. 100 dollar bill.
Who is Benjamin Franklin?
2 ways to build good credit.
What is pay on time, don’t go over credit limit, don’t bounce checks, don’t use all available credit, pay balance in full every month?
The amount of money borrowed or the amount of money owed, excluding interest.
What is the principal?
A flexible credit card issued through a financial institution and can be used to make purchases anywhere it is accepted around the world.
What is a bank credit card?
The best selling video game of all time.
What is Minecraft?
The range of possible credit scores.
What is 150-850?
The name for the interest rate charged on the amount borrowed.
What is the Annual Percentage Rate (APR)?
A fee charged once per year for the use of a credit card
The highest-grossing holiday movie of all time
What is Home Alone?
How do credit scores affect your APR?
The higher the score, the lower the APR.
A summary of the costs/fees of a credit card.
What is a Schumer Box?
The amount of time, in days, you are allowed before finance charges are applied to a purchase made on a credit card.
What is a grace period?
This Italian automobile manufacturer gained majority control of U.S. automobile manufacturer Chrysler in 2011.
What is Fiat?
A type card issued through a partnership between a bank and another retail company
What is a cobranded card?
The number of days between the last statement date and the current statement date
What is the billing cycle?