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10 Cards in this Set
- Front
- Back
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Becky no longer wants to use her Clothes-R-Us store credit card. What is the best thing she could do with the credit card? |
A. File the credit card away for use at a later time. |
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When may a person view his/her credit report for free? |
B. Once a year, from each of the three main credit reporting agencies. |
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When Bryce attempted to borrow money at the bank, he learned that his credit score is low. Which statement best describes what this is likely to mean for Bryce? |
D. The interest rates on his loan will be higher, since his credit score is low. |
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Which is NOT an example of a data furnisher? |
B. Credit card company |
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Jenny is 18-years old and has applied for credit for the first time. Her credit application was declined because she has no credit history. What would you recommend Jenny do to being to build a positive credit history? |
B. Jenny should obtain a secured credit card. |
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Jake's credit application has been declined because of his negative credit history. Which statement is most likely to be true? |
B. Jake has applied for 4 credit cards and a car loan in the past 6 weeks. |
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Which of the following is not included in an individuals credit report? |
D. Medical information. |
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Edward wants to develop a positive credit history. How should he do this? |
A. Maintain reasonable amounts of available credit. |
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Evan is writing a scholarship essay about the importance of responsible money management. He wants to explain the meaning of borrowing. Which statement below would explain the importance of understanding the process of borrowing money? |
A. When you are borrowing, you are spending future income. |
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The financial counselor that Ariel consulted about her use of credit within safe boundaries. Ariel's financial counselor most likely told her to: |
C. Keep the total amount of money she has borrowed, not including her house, under 20% of her net income. |
