credit card
When should you get a credit card?
When you have the ability to pay off your balances on time and in full
What is one thing you should watch out for when using a credit card?
Interests!!!!
What are the possible penalties for withdrawing your money early from a CD?
If you take out money you lose any interest you earned and get fees.
When do you get charged the interest rate?(APR)
APR is only applied if you are carrying an outstanding balance on your card
Whats the lowest credit score ou can get?
300
What is credit utilization?
the percentage of your total credit used from the total credit available to you
How much percent should you use on your credit card?
Ty to keep your spending to less then 30% or it can lower your credit score
What does CD stand for?
Certificate depost
How much do you have to save a to get 10,002$
$427.40
What is a good credit score?
670 to 739
What goes into your credit score?
Payment history, The amount you owe, length of credit,new credit
What does the credit card reward system depend on?
depends how much you spend
What do you want to shop around for CD's?
Looking for a higher rate o return and do not want to invest in stocks
What is good way to save money?
Not going out to eat and cook at home, not buying unecessary things
What is a bad credit score?
300 to 660
What is an interest rate?
The interest rate is the amount a lender charges a borrower and is a percentage of the principal--the amount loaned
Where does the money come from when you use a credit card?
The bank or the store that provided the card
What is a benefit of a CD?
CDs can potentially offer higher interest rates tan savings accounts
What does APR stand for?
Annual percentage rate
What are the best 3 places to check credit score?
Equifax,Experian, and Transunion
Why is it bad to have a lot of credit cards?
It can lower your credit score
Which type of credit cards should you start with if you have no credit history?
The bank or the store that provided the card.
What does "not touching it for a while" mean?
Saving your money
Whats the highest credit score you can get?
850
Why is it bad to have a low credit score?
because you wont be able to apply for many things like housing having a car etc..