Types of Credit
+'s of Credit
C's of Credit
Watch Out!!!!!!!
Law and Order
100
Usually has the highest rate of interest of all types.
What is a credit card.
100
Scores range from _ to _.
What is 300 to 850.
100
Credit can be good and bad. (True or False).
What is True.
100
_% of teens owe money to either a person or company, with an average debt of $230.00.
What is 33%.
100
It is easier to defend yourself because you have an electronic report of purchase. (True or False)
What is True.
200
Typically used for large purchases.
What is an installment loan.
200
It's often easier and safer to have a Credit card than carry around cash.
What is Convenience.
200
Lenders want to know if you're trustworthy.
What is Character.
200
About 26% of teens ages 15-17 already have more than $1,000.00 in Debt. T.)True F.)False
What is F.
200
Writing checks when you dont have enough money in your account.
What is Bouncing Checks.
300
Used for tuition and other college expenses.
What is a student loan.
300
Buying items with a credit card can make it easier to get a refund if there's a problem with a purchase.
What is Protection.
300
Lenders take comfort in knowing that you have personal items of value.
What is capital.
300
_% of teens say they understand how credit card interest and fees work. A.)26 B.)29 C.)30 D.)33
What is C.
300
Having a lot of credit cards and loans. (__ risk)
What is High Risk.
400
Usually specifically for a loan to buy a house.
What is a mortgage.
400
With a credit card, you always have a way to pay for emergency expenses.
What is Emergencies.
400
This is an asset of value that lenders can take.
What is collateral.
400
_% of teens say they know how to establish good credit. A.)30 B.)32 C.)34 D.)36
What is D.
400
Changing credit cards frequently.
What is Decreasing Lender Trust.
500
Everyone that has a bank account and regular income gets accepted.
What is a debit card.
500
Credit allows you to buy and use an expensive item, such as a car or house.
What is Quicker Gratification.
500
The lenders chief concern when accepting or declining an application.
What is capacity.
500
Someone is willing to loan you money called principle in exchange for your promise to repay it. A.)Debit B.)Loan C.)Credit D.)Bankruptcy
What is C.
500
Maintaining high balances on your credit cards and loans.
What is Lender Leeryness.
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