personal finance
Paying on time is the most significant factor for determining your credit score. What is the charge for paying late?
What is a late fee?
If you owe money to someone, you are the ________.
What is debtor/borrower?
This person guarantees repayment of a loan in case a borrower can't pay...
What is a co-signer?
A bank account you use to save money...
What is a savings account?
This type of investment allows you to buy a share of a company
What is a stock?
True or False: You should always pay only the minimum amount due on a credit card.
False. Always pay more to reduce the interest paid.
This is what a lender does when they take back your car due to non-payment...
What is repossess?
What is a higher interest rate
Term used to describe what the consumer pays to borrow money. Essentially the cost of a loan.
What is interest?
This is considered one of the most popular risky investments...
What is stock market?
Who should you always pay first after earning a paycheck?
Yourself! (savings account)
When you don't pay on a loan...
What is default?
When a bank takes back your house due to non-payment...
What is foreclose?
Bad credit can mean you get turned down for an apartment or a?
What is an auto loan, low interest rates for credit, and even a job?
The account some use to save for their retirement is a ________K.
What is401K?
Unlike a Credit Union which is owned by it's members, banks are often owned by...
What are Investors or Shareholders/Stockholders?
Experian, Equifax, Transunion
What are the credit reporting agencies
A missed payment and a bankruptcy stays on your credit report how many years?
What is 7 years for a missed payment and up to 10 years for a bankruptcy?
Move money between bank accounts...
What is transfer?
What is a prospectus?
This is another name for your credit score.
What is FICO score.
A new car loses value as soon as it is driven off of the lot. This is known as...
What is depreciation
After your receive your credit card bill, you have this amount of time to pay the bill before interest is charged.
What is a grace period
Often seen when exploring the cost of a credit card or rate of return for a savings account. This 3 letter acronym is the approximate yearly cost of borrowing money from a financial institution.
What is APR (Annual Percentage Rate)
This is a type of index which tracks the performance of the top 500 stocks traded on the stock exchange
What is the S&P 500?