Credit Card and Fraud
This is when there is an intentional effort to deceive another individual for personal gain
What is Fraud?
This word refers to assets purchased with the goal of providing additional income from the asset itself but with the risk of loss.
What is Investments?
This type of investment allows the investor to lend money to a company or government, getting their money back on top of the interest acquired until the maturity date.
What is Bonds?
This term refers to goods, services, and/or money received in exchange for a promise to pay back a definite sum of money at a future date
What is Credit?
If my savings account had $18,235 in it, and I had made $3,142 off of interest, what was my Principal for the account?
What is $15,093?
What is a Credit Card?
This term refers to the rise in the general level of prices over time. This poses a risk for any investments that you make, as the return on the investment might not be higher than the rise in prices.
What is Inflation?
This type of investment gives you ownership of residential or commercial property, with hopes of selling it to someone for a higher price.
What is Real Estate?
These companies keep a record of a consumer's account history, and use this information to generate Credit Reports.
What are Credit Report Agencies (CRA's)
If your credit score was 400 with FICO and 600 for VantageScore, you would be considered to have this kind of credit score.
What is a low credit score?
This type of fraud, which Michelle Brown was a victim of, is when another's personal information is used without permission.
What is Identity Theft?
This term refers to the Total return on investments expressed as a percentage of the amount of money saved.
What is the Rate of Return?
This type of investment gives you a share of ownership in a company, making your money back through either dividends or capital gains.
What are stocks?
This is a mathematical number created to help evaluate the risk with lending a consumer money, reflective of their prior credit history.
What is Credit Score?
If you save $3,000 and make a return of $200 on your investment, what is your Rate of Return?
What is 6.67%?
This rate, usually set at 0% for the first year that a Credit Card account is opened, is the interest that is charged for using the Credit Card.
(An extra 200 points for anyone who can list what the acronym stands for)
What is APR?
(Annual Percentage Rate)
Compared to changes in spending, money earned from investments is usually used to pay for these type of goals.
What is Long Term Goals?
This type of investment presents a high risk, but allows you to make money, assuming you did truly invest in the next big thing, or player.
What is Speculative Investments?
This type of credit is when a borrower repays a specified amount of equal payments over a period of time, usually for payment on a house or car.
What is a Closed-end credit (Installment Credit)
$3,000 of expenses a month means that you should save how much money according to the PowerPoint?
What is $18,000?
Credit Card issuers are required to disclose the terms and fees of credit cards in this easy to read box format.
What is the Schumer Box?
This term describes a portfolio that has spread its investments across multiple types of investments, in hopes to avoid massive losses if one of the investments turns out to be a massive failure.
What is Diverse/Diversify?
This type of investment is when you give money to a company that uses their funds to to invest in a diversified portfolio of stocks and bonds for you.
What is Mutual Funds?
Compared to other Inquiry requests, this is the only scenario where inquiry into your Credit Report can negatively affect your credit score.
What is Seeking additional credit?
If you had to pay 15% Interest rate on your Car Loan your your monthly payment of $300, you would be paying this much in Interest on top of the $300.
What is $45?