Credit 1
What is the easiest way to improve your credit score?
What is your payment history? (pay on time and at least minimum amount due)
The remaining amount of money that an employee brings home after taxes/deductions.
What is Net Pay?
How often should you pay off any credit card payment you have?
What is Monthly?
Who is on a $100 bill?
Ben Franklin
The legal status of a person or other entity that cannot repay the debts it owes to creditors?
What is bankruptcy?
The percentage of American people with a perfect credit score.
What is 1.2%?
Requires that debt collectors treat you fairly. It prohibits debt collection companies from using abusive, unfair or deceptive practices to collect debts from you.
Fair Debt Collection Act.
What type of purchases should you make to build good credit?
Responsible purchases (food, gas, etc).
You should always avoid this when using a credit card.
What is maxing out your credit?
What is the range of a credit score?
300-850
Who should you always pay first?
MYSELF
Money paid regularly at a particular rate for the use of money lent or for delaying the repayment of debt. (hint: you want the lowest)
What is Interest?
A paper that you write on to pay for something? (hint: you must sign it)
What is a check?
How long does negative information remain on your credit report?
7-10 years.
When someone fails to repay a debt.
What is default?
What is King?
Cash
What should your Credit Utilization Ratio percentage be? (hint: a percentage)
<=30%
Should you cosign for someone who is untrustworthy?
NEVER.
What are these? Equifax, Experian, and TransUnion
What are the three credit reporting agencies?
Fair Isaac Corporation. (hint: this is an acronym)
What does FICO stand for?
What is the best strategy that can help you stay financially healthy? (hint: you write it down)
Create a budget and stick to it!
Explain Credit Utilization Ratio.
Credit Card Balance divided by Credit Card Limit
What money won't do for you.
Make you happy, unless used properly.
The range of an excellent credit score.
800-850.