Credit Utilization
What is credit utilization?
What is relationship between the balance on a credit card and the credit limit expressed as a percentage
How are credit cards convenient?
What is they eliminate the need to carry cash?
How can credit cards be too easy to spend money?
Do late payments affect credit score in a negative or positive way?
What is negative?
What is the formula to figure credit utilization?
What is balance/credit limit=credit utilization
How do credit card companies provide credit card protection?
What is they offer fraud protection?
True or false: credit cards are a temptation for people to make purchases they can't afford?
What is true?
If a card holder does not pay the minimum payment on time, will it trigger and increase an APR
What is yes?
What do most experts suggest is an acceptable utilization percent
What is 50%
How do credit cards help for emergencies?
What is they offer valuable source of funds?
True or false: credit card companies never have annual fees?
What is false?
True or false: a late payment instantly affects a credit score?
What is false?
How do you avoid fees and interest charges?
What is paying off credit card each month in full and on time
How do credit cards help improve your credit score?
What is by paying your payments on time and in full?
In general, credit card debt effects what age group of people?
What is young undergraduate students?
True or false: it is critical that the minimum payment is paid each month?
What is true?
What is the credit card utilization rate if the card limit is $1,000 and the balance on the card is $600
What is 60%
How do credit cards offer an interest-free short-term loan?
What is if the card holder pays the monthly balance in full, they do not pay any interest?
True or false: most Americans have quite a bit of credit card debt?
What is true
How long do credit bureaus take until they consider a payment past due?
What is 30 days?