Understanding Credit

Your Account

Credit

Credit Report

100

One of thing you must have to open a bank account.

What is identification or money to deposit.

100

Paying off your entire credit card bill every month.

What is how to build good credit?

100

True or False: Your credit score determines how likely you are to get a loan.

TRUE

200

Name one of the credit bureaus.

What is Equifax, Experian, or Transunion

200

Paying bills late.

What is how to obtain bad credit?

200

Name something listed on your credit report other than your personal information.

What is payment and credit history, inquiries from creditors, or public records information (bankruptcies, foreclosures, etc.)

300

The three things you should NOT use when choosing a PIN number.

What is birthdates, street address, and social security number?

300

True or False: When opening a credit card it's good to find the card with the highest interest rate.

FALSE

300

How often you can request to see your credit report for free.

What is once a year?

400

The name of the form you use to put money into the bank.

What is a deposit slip?

400

True of False: If I pay the minimum monthly payment on a credit card bill, then I won't owe any interest.

FALSE

400

True or False: If I pay my credit card in full by the due date, I will not owe any interest.

TRUE

500

When you spend more money than what is in your account.

What is an overdraft?

500

Something that is stored in the magnetic strip on the back of your credit/debit card.

What is your account number?

500

A free website you can use to access your credit report.