SCAM/ Identity Theft
What is one of the common ways to commit fraud?
Dumpster diving, spam/phishing, or shoulder surfing
This is what credit card companies charge to use their money.
What are finance charges?
A report listing your debts, activity on your accounts and credit rating.
What is a Credit Report?
On a local level, taxes provide services such as... (name 2 of the 6)
What is education, parks, roads, and police, fire, and health departments?
The term used to describe the things you spend your money on.
What are expenses?
This is a deliberate misrepresentation to gain another's money, assets or information. What am I ?
What is Fraud?
When you select this you enter your PIN and the funds are deducted from your bank account immediately.
What is Debit
Why should you want to have a credit card?
Necessary for Emergencies Making Hotel Reservations Renting A Car Develop A Credit History Convenience While Shopping Enjoy Goods and Services Now, Pay Later Take Advantage of Rewards
A person who lives with you and for whom you pay more than half of his or her living expenses.
What is a "dependent?"
A request for your bank to pay another party from funds in your account.
What is a check?
What should you do if you become a victim of Identity Theft?
Contact Federal Trade Commission Post Office Social Security Internal Revanue Service Contact the three credit bureaues Police
What are the four major credit cards?
Visa MasterCard Discover American Express
Is your credit score based off of long term or short term credit history?
Long term.
All taxpayers must use one of three basic tax forms. Name two of these three tax forms.
What is Form 1040, Form 1040A or 1040EZ?
This happens when you write checks for more money than is in your account.
What is an overdraft?
True or False: To better manage your identity, one should read credit card statements carefully and often.
What is true
What does APR stand for and what is it?
APR - Anual Percentage Rate, it is the interest rate over the course of a year.
What is one of the components of a credit score?
Payment History, Length of Credit History, New Credit, Types of Credit Used, Amounts Owed.
One important tax document you will need to complete the filing of your Income Tax is your _____, which your employer must complete and send to you by January 31st.
What is a "W-2?"
The amount of money that still needs to be paid on a loan.
What is Balance?
Who are usually the people to steal other peoples identities? 70% .. who?
up to 70% of all identity theft cases are inside a job-by a coworker or an employee of a business that you patronize
When a card holder only pays the minimum balance every month what will they gain a lot of?
What is interest.
Does checking your credit score hurt your credit?
No.
Willful failure to pay taxes is called ______ ________.
What is "Tax Evasion?"
The smallest payment you are allowed to make toward the balance due on your statement.
What is Minimum Payment?