Credit Scores
This three digit number tells banks how responsible you are with credit
What is a credit score?
This type of account is made for everyday spending and paying bills
What is a checking account?
This account is for storing money and earning a little interest
What is a savings account?
This type of savings account offers a higher interest rate than normal
What is a high-yield savings account?
A CD stands for this
What is a Certificate of Deposit?
Paying bills on time helps this number go up
What is your credit score?
You often use this plastic card to spend money directly from your checking account
What is a debit card?
The "Y" in APY stands for this word, that means money grows over time
What is "yield"?
These accounts are often offered by these types of banks, which don't have physical locations
What are online banks?
With a CD, your money is locked in for this amount of time
What is a fixed term (or set amount of time)?
A credit score usually ranges from this low to high number
What is 300 to 850?
A checking account usually earns this much interest
What is little to none?
You should keep money here for things like emergencies or future goals
What is a savings account?
The benefit of a high APY is that you earn this faster
What is interest?
CDs usually pay more interest than savings accounts because of this reason
What is the money that stays locked in?
What is a credit limit?
This type of fee happens when you spend more money than you have in your checking account
What is an overdraft fee?
Unlike checking accounts, savings accounts are not usually used for this kind of spending
What is daily or frequent spending?
This word describes how often interest is added to your savings
What is compounding?
Taking money out of a CD early can result in this
What is an early withdrawal penalty?
This type of inquiry can lower your score when you apply for a loan or a credit card
What is a hard inquiry?
This digital method lets you pay someone or a business instantly from your account
What is a bank transfer or online payment?
Most savings accounts are insured up to $250,000 by this government agency
What is the FDIC?
A high-yield savings account is still this type of investment, meaning it's very safe and low risk
What is low-risk?
The longer the term of a CD, the more you usually earn in this
What is interest (or APY)?