Credit Cards
What is a contract agreement in which a borrower receives a sum of money or something of value and repays the lender at a later date, generally with interest?
Credit
The Borrower's Personal credit history including: Total debt, Delinquent Accounts, Available credit, Payment history.
Character
What is the possible range of credit scores someone can have?
300-850
What account is similar to having a lock safe in your house?
Savings Account
How many students go to East Jefferson High School?
Roughly 1300
What is a range of scores that is determined on someone's credit history? Generally these scores range between 350-850.
Your credit score
Any asset a borrower can offer to secure a loan: Property, Vehicles, Equipment, Personal assests. (like the house/car!)
Collateral
What is something you can do to HELP your credit score?
Pay bills on time, don't keep a balance on credit cards, keep a low credit utilization rate
A loan offered to students for education-related expenses that must be repaid.
Student Loans
A form of virtual reality that was created by Mark Zuckerberg.
I should only ever pay the minimum amount due on my credit card. True or False
False
What is an amount of money? In personal banking, it refers to the amount of money in a savings or checking account. In credit it refers to the amount of money owed. (Not a C)
Balance
If Mr. Pedrami applies for 10 credit cards will he hurt or help his credit score?
HURT
A loan secured in order to purchase property.
Mortgage
What is the largest state in the US
Alaska
Term for the amount you are charged to borrow from a Credit Card company on a yearly basis. The yearly interest rates charged on outstanding credit card balances.
Annual Percentage Rate (APR)
Any Asset that can be turned into cash to make payments: Cash Savings, Investments, Property equity, Etc.
Capital
A banking service that allows you to link your checking account to your credit card, thereby protecting you from overdraft penalties or bounced checks in the case of insufficient funds.
Overdraft Protection
Receiving a loan for a vehicle and paying it off over time. Generally in month to month payments.
Financing a Vehicle
What was the most watched event in the worldwide on TV in 2022?
World Cup Final
Term for the maximum amount you can spend on your credit card
Credit Line
You or your Business' ability to make the revenue needed to pay back a loan.
Capacity
Name one of the three credit reporting agencies.
Experian, Equifax, Transunion
A retirement savings plan funded by employees and often matched by contributions from the employer; contributions are usually made before taxes and grow tax-free until withdrawn, although after-tax contributions are also allowed.
401K
What is the point of interest being included when paying back a loan or mortgage?
The bank is offering a service of loaning you the money to pay it back. Interest is the banks way to make their money and be paid/compensated for offering this service.