Credit Cards
Define the term "credit."
What is having the ability to use borrowed money.
Define the term budgeting.
What is a plan to track your spendings.
This three-digit number represents a person's creditworthiness.
What is a credit score
The best way to use your credit card responsibly.
What is pay balance in full and on time.
What does a typical budgeting plan consist of?
What is income, expense, and savings
This credit score range is generally considered "good."
What is 740-799
True or False: Making the minimum payment every month will get you out of credit card debt.
What is false.
Define the term "needs" and provide an example.
What is anything required for human survival
Examples: Food, Shelter, Water, Clothes, etc..
True of False: Checking your credit score can negatively impact your credit score.
What is false.
Your dog has heartworms. Your dad pays for the visit to the vet and the medicine with his card. He knows the payment will be accepted because there is enough money in his bank account to cover the costs.
Debit or Credit?
What is a debit card.
A new smartphone upgrade is typically classified as this type of expense.
What is a want.
The largest contributing factor to your credit score.
What is payment history.
What is overspending, fees, and debt accumulation.
The term for financial cushion set aside to cover unexpected costs like medical bills or car repairs.
What is an emergency fund
450: savings
What is payment history, amount of debt, length of credit history, credit mix, and new credit.