The maximum amount of credit a lender will give to the customer is..
What is a credit limit
100
Bad credit when someone takes your personal information is..
What is identity theft
100
A plus to credit that is easier for travel expenses and buying on the internet is..
What is convenience
100
Paying your bills on time is an example of..
What is character
100
Which of the following is not one of the three main categories of credit
A. installment
B. revolving open-end credit
C. layaway credit
D. non-installment credit
What is C. layaway credit
200
The length of time you have before you start accumulating interest is..
What is the grace period
200
Bad credit when people use credit to live beyond their needs is..
What is over spending
200
A plus to credit that can make it easier to get a refund if there's a problem with your purchase is..
What is protection
200
Making regular deposits is an example of..
What is collateral or capital
200
Non-installment credit is typically ______ in duration
A. more than six months
B. 30 days or less
C. one to four years
D. 2 weeks
What is B. 30 days or less
300
This tell you the cost of the loan per year as a percent of the amount borrowed it is..
What is annual percentage rate(APR)
300
Bad credit that automatically makes the item more expensive than if you had just paid for it with cash is..
What is interest
300
A plus to credit when you use the credit responsibly results in..
What is opportunity to build credit
300
being choosy about your credit cards and loans is an example of..
What is capacity
300
Installment loans are usually used to buy all of the following except..
A. furniture
B. gas
C. boats
D. cars
E. all the above
What is B. gas
400
A number that reflects your creditworthiness is..
What is credit score
400
Bad credit that is the entire amount of money you owe to lenders is..
What is debt
400
A plus to credit that would allow you to charge money instead of having to find a nearby bank is in..
What is emergencies
400
Maintaining a low balance is an example of..
What is capacity or character
400
Installments loans typically require the borrower to make payments every...
A. week
B. month
C. year
D. 2 years
What is B. month
500
A legal process to get out of debt when you can no longer make all your required payments is..
What is bankruptcy
500
Bad credit that lenders have against you rfuture income if it's not repaid is..
What is debt
500
A plus to credit that will give you points
What is rewards
500
Key factors of creditworthiness are your income and employment history, this is an example of..
What is capacity
500
All loans have..
A. cash back
B. interest
C. rewards
D. all the above