Income
Income earned on a hourly basis.
Wage
This is the best strategy to avoid paying interest on your credit card.
Pay the balance in full monthly.
This source of payment draws money from your checking account.
Debit
It is easier to keep track of how much you have to spend if you pay in cash.
True
These two factors have the biggest impact on your credit score.
History of on-time payments and balance.
Take home pay after taxes and deductions.
Net Income
Factor that has the BIGGEST impact on a credit score.
Payment History
This source of money establishes a debit with the financial institution and if the money is not paid back within the 30 day billing cycle full interest is charged.
Credit card
Student loans are a source of income.
False
The longer you use your credit responsibly........
The higher your credit score.
This is paid bi weekly or monthly for professional employment.
Salary
The biggest problem with only paying the minimum amount monthly on a credit card is....
Paying interest
Spend within your means = do not spend more than you can afford
True
The amount you earn before taxes and deductions.
Gross pay
Purchasing with credit cards can give you ____________ on your purchases. Hint: If something goes wrong with your purchased item.
Extra Protection
A direct deposit is money that is automatically deposited in your banking account on a regular basis.
True
This is withheld from each of your paychecks and is used to fund government services such as health care, national defense, and scientific programs.
Federal Income Tax
Payday loans are easiest to pay back because of lower interest rates and low fees.
False