Credit Scores
What is a credit score?
A way to find out your standing with your bank and credit bureau.
If you had 100 dollars and you had to withdrawal 20 dollars out of the account how much would you have left?
80 Dollars
What is a late fee?
A additionally payment for failure to pay off prior payments.
What is a credit Report?
A report of your credit
True or false? If you have a high credit score you get higher interest rates?
False
What is collateral?
A form of a asset you own that can back up your wealth and can be used in case the borrower fails to pay the lender back.