Credit
What is credit score?
A number that estimates how likely you are to pay back your debt
what is an interest rate?
a rate of return to you or the lender
what is debt?
debit is money owed to another person
how should you use your credit card?
for needs only
What is a good credit score?
670 to 739 is good
What dose APR mean?
Annual percentage rate
What is a debt calculator?
A calculator that estimates how long it will take you to pay off your debt
How long is bankruptcy on your credit report?
7 to 10 years depending on the type of bankruptcy
What is a bad credit score?
580 or below
What is a good car loan interest rate?
For 661 to 780 for a new car 6.87% and used 9.36%
Does debt affect your credit score?
yes
How old do you have to be for a credit card?
18
what is a credit limit?
A max amount of money a person can change to a credit card
What is compound interest?
Interest that applies to not only the initial investment/loan but also to the accumulated interest from previous periods
what is the snowball method?
pay off the smallest debt the fastest
Why should you sell everything?
for gambling
dose bankruptcy affect your credit score?
Yes
What is the formula for compound interest?
a=p(1+r/n)nt
What is the avalanche method?
paying the highest debt the fastest
What do you do with all your money?
put it all on red