Managing Your Account
Something you will need to open a bank account if you are under 18 years old.
What is a co-owner?
When you have enough money to cover your expenses and save for emergencies.
What is financial stability?
A credit score is a three digit number that reflects the likelihood of this.
What is "how likely you are to repay debt?"
This type of credit card usually has lower limits and lower rates.
What are student credit cards?
You can use this type of app to track spending and account balance.
What is a banking app?
This type of account allows unlimited transactions.
What is a checking account?
Money that is owed or due.
What is debt?
This is the lowest credit score you can have.
What is 300?
This term refers to spending more than what you have in your account and can lower your credit score.
What is overdrafting?
Setting aside money for future use.
What is saving money?
These are for-profit businesses that are owned by investors and provide more branches and ATMs nationwide.
What are banks?
This type of funds are readily available but less secure and non-insured.
What is cash?
The percentage of a loan's principal that a lender charges for the use of money lent, can delay the repayment of a debt.
What is an interest rate?
We recommend keeping credit authorization low, under this percentage.
What is 10%
This service automatically pays bills on a set date, helping you avoid late payments.
What is a savings account?
You must do this to a check to endorse it.
What is signing the back?
This is the highest credit score you can have.
What is 850?
It's best to avoid these due to higher interest rates and limited usability.
Retail credit cards
Putting money or other resources into something to make a profit or gain an advantage.
What is investing?
These are member-owned, no for-profit, and typically have lower fees and rates.
What are credit unions?
These are prepaid checks useful for sending large amounts of money.
What are Money Orders?
This is one of the three major credit bureaus.
What is Equifax, Experian, or TransUnion?
35% of your credit score is made up by this.
What is Payment History?
The process of calculating how much money you must earn or save during a particular period of time, and of planning how you will spend it.
What is budgeting?