principal, rate, and term
100: The original amount of money borrowed on any loan
Answer: What is the principal?
100: The minimum you must pay each month on a credit card
Answer: What is the minimum payment?
100: The process of paying off a loan with regular payments that cover both principal and interest
Answer: What is amortization?
100: A higher credit score usually gets you this on loans
Answer: What is a lower interest rate?
100: You get a $75 per month raise at work. Best move?
Answer: What is make extra payments on your highest interest loan?
200: This is the percentage a lender charges for borrowing money
Answer: What is the interest rate?
200: You should try to keep your credit card balance below this percent of your limit
Answer: What is 30%?
200: Extra payments should usually go toward this part of the loan first
Answer: What is the principal?
200: Missing a loan payment does this to your credit score
Answer: What is lowers it?
200: You are charged $1,800 in the emergency room and put it on your credit card. What happens next?
Answer: What is your minimum payment and interest both increase?
300: The length of time you have to repay a loan
Answer: What is the term?
300: Paying only the minimum on a credit card does this to your debt
Answer: What is makes it last much longer and costs way more interest?
300: Making one extra mortgage payment per year does this to a 30-year loan
Answer: What is shortens it by several years?
300: A credit score in the 300-580 range is considered this
Answer: What is poor credit?
300: Your auto loan interest rate drops after your credit score improves
Answer: What is refinance the loan?
400: A longer loan term usually does this to your total interest paid
Answer: What is increases it?
400: This is the dangerous type of interest credit cards usually charge
Answer: What is compound interest?
400: On a $250,000 mortgage at 6% for 30 years, paying an extra $200 per month does this
Answer: What is saves tens of thousands in interest and shortens the loan?
400: High credit card utilization does this to your score
Answer: What is hurts it?
400: You have $300 extra this month. Best place to put it?
Answer: What is extra payment on highest interest debt?
500: On a $20,000 auto loan at 6% APR for 60 months, this is roughly the monthly payment
Answer: What is about $386?
500: A $4,000 balance at 22% APR with only minimum payments will take this long to pay off
Answer: What is over 20 years?
Answer: What is saves tens of thousands in interest and shortens the loan?
Answer: What is the debt avalanche method?
500: Someone with a 780 score versus a 620 score will usually pay this on the same car loan
Answer: What is a much lower interest rate?
500: You cannot pay your credit card minimum this month. What are the consequences?
Answer: What is late fees, higher APR, and a big credit score drop?