Now It's Getting Personal (Finance)
What is the three-digit number used by lenders to evaluate risk called?
Credit Score
What is the term for the type of debt that involves putting up an asset as collateral (cars, homes, cash, etc.)
Secured debt
Which US credit bureau starts with the letter “T”?
Transunion
Which major credit card issuer only has 15-digit account numbers versus the standard 16?
American Express
These are not-for-profit institutions that are member owned and operated
Credit Unions
What are you buying when you invest in ownership shares of a company?
Stocks
What is the biggest source of debt in the US?
Credit Cards
What is the highest possible credit score you can achieve within the FICO scoring system?
850
This country was the first to use paper money – over 1800 years ago.
China
What is the type of fee charged by a financial institution as a penalty for exceeding an account balance?
Overdraft Fee
Lenders use a DTI ratio to assess borrowers. What does DTI stand for?
Debt-to-Income
If your debts are transferred to a collections agency, how long does it stay on your credit report?
7 years
35% (the highest percentage) of a credit score involves the ability to do what?
Pay on time
What is the name for the three-digit code on the back of a credit or debit card?
CVV (Card Verification Value)
What does “ATM” stand for?
Automated Teller Machine
What does the “Y” in APY stand for?
Yield
What percentage (rounded to the nearest 10%) of American adults are in some type of debt?
80%
Which website allows you to check your credit reports from all three credit bureaus for free once per year?
US paper money is actually made out of 75% of which fabric?
Cotton
What is the term for interest paid on top of interest earned, typically expressed as an APY percentage?
Compounding
Which type of IRA is made up of after-tax dollars?
Roth IRA
If you are in debt to creditors, what is one thing you should do directly with them to try to come to better terms?
Negotiate
What type of credit score inquiry does not impact or affect your actual credit score?
Soft inquiry
The EMV chip in debit and credit cards does what with your card information before transmitting it to a merchant?
Encrypts
Who should you pay first when trying to stay focused on savings goals?
Yourself