Types of Credit
Plastic or metal cards used to purchase goods and services with the intention of paying later
What is a credit card?
How much debt you’re in
What is amount owed?
Who qualifies for Medicaid
Who is those of low or very low financial status?
The most common grace period to pay off credit
What is monthly?
True or False: Bonds are high risk
What is false?
When making large purchases like a house you would use this type of credit
What is installment credit?
How long you’ve had credit
Who qualifies for Medicare?
How often is APR paid
What is annually?
Another word for shares or equities
What is stocks?
Prepaid credit cards where the security deposit is the limit
What is secured (credit cards)?
True or false: Your employers can look at your credit
True
What do you do with a deductible?
What is subtract/deduct it from the cost?
Explain compound interest
What is interest charged on interest?
Bank deposit accounts similar to savings accounts
What are money market accounts?
Credit cards not backed by a deposit and dependent on credit history and financial strength
What is unsecured (credit cards)?
Whether or not you use installment credit, credit cards, both, or neither
What is types of credit used?
Name all 4 of the most common types of insurance
What is life, auto, home, and health insurance?
What happens if your entire balance is not paid of during your grace period?
What is interest will be applied?
Combines money from several individual investors and uses it to invest in stocks, bonds, and short term debt
What is a mutual fund?
The range of a credit score
What is 300 to 850?
APR stands for
What is Annual Percentage Rate?
The amount you pay for health insurance every month is also called a…
What is a premium?
You build up what every time you make payments towards credit
What is your credit history or credit score?
A measure of the price performance of a basket of securities using a standardized metric and methodology
What is an idex?