Identity Theft
A place to check if you have been a victim of identity theft
What is your credit report?
The ability to borrow money and pay it back, usually with interest
What is credit?
The cost of borrowing money
What is an interest?
An instrument of value that is exchanged for something else
What is money?
A nine-digit identification number unique to each individual
What is a social security number?
FICO credit scores
What do lenders use to assess an individual’s credit risk?
Money that has to be paid back
What is a loan?
Convenient way to spend money that is an alternative to checks or cash and is linked directly to bank account
What is a debit card?
An example of this is when a thief opens a new credit card account in your name and runs up charges
What is credit Card Fraud or Fraud?
Equifax, TransUnion, and Experian
Who are the three credit reporting agencies?
This type of interest rate will change when the index changes
What is a variable interest rate?
In regard to spending - Things that are nice to have, or satisfy some desire or urge
What are wants?
File a police report
What to do if your identity is stolen?
The largest factor contributing 35% to your FICO score
What is payment history?
The interest rate remains the same throughout the term of the loan
What is a fixed interest rate loan?
Track your spending and saving for the future
What is the purpose of a budget?
Fraudulent practice of sending emails purporting to be from a reputable company in order to induce individuals to reveal personal information, such as passwords and credit card information
What is phishing?
Maintain credit histories and provide lenders with FICO scores
What do credit reporting agencies do?
The maximum amount that can be borrowed from a credit card
What is credit limit?
In regard to spending - Things that are necessities for everyday living
What are needs?