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13 Cards in this Set
- Front
- Back
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What are credit card advantages?
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you can buy items with no cash, you have a record of your expenses, its convenient, all bills can be combined with one payment
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What are the disadvantages?
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you pay more because of interest, you can lose it, you can lose track of how much you buy, can lead to financial problems
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How can you be responsible for your credit?
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Borrow only what you can afford, pay your bills, report stolen cards, dont give your credit card number out
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character
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Do you pay your bills?
Are you honest? Have you used credit before? Do you have character references? Do you have a job? |
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capital
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Do you have assets?(things worth money)
Do you have property? Do you have a savings account? Do you have investments? |
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capacity
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Do you earn enough income to support your credit?
DO you have a stready job? What is your salery? How many dependents do you have? |
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How do you build good credit?
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Pay bills on time, open a checking and savings account, apply for local credit card, get a co-signer
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What is a credit report?
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A history of your spending and and credit information
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How much should you borrow?
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No more than 20% of your yearly net(after taxes) income
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How do you choose a credit card?
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shop for the lowest interest, read the contract
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What makes up the money supply?
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You look at currency, and checking accounts
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What are types of Loans?
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personal, business, student, morgages, real estate, credit cards, credit union
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What types of bank accounts can you have?
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checking, savings, money maket, mutual funds, corporate securities, CD
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