Financial Literacy

Front

What can be damaging to a person's credit history? Options: Having 15 accounts open with high balances, Making minimum monthly payments on due date, Having one hard inquiry on a credit report, Having multiple addresses listed in personal information

Back

Having 15 accounts open with high balances

Front

How many free credit reports is a person allowed in one year?

Back

1

Front

Wendy wants to improve her credit score. Which action will help? Options: Pay the minimum amount due on credit cards and loans., Close any accounts that have a zero balance., Make all monthly payments on or before due date., Take out additional loans to pay off current debt.

Back

Make all monthly payments on or before due date.

Front

What is one advantage of using a credit card over a debit card?

Back

Using a credit card responsibly can build positive credit history.

Front

How long does negative information stay on your credit report?

Back

7 years

Front

If you file for bankruptcy, how long will that stay on your credit report? Options: 10 years, 12 years, 30 years, Forever

Back

10 years

Front

A score at 750 on your credit report is pretty good.

Back

True

Front

Do credit cards take money directly out of your bank account?

Back

False

Front

What is one of the main features of a debit card?

Back

The money comes directly from your checking account

Front

What can appear on your credit report? Options: Salary, If you've been arrested, Money you borrowed from your aunt, The number of credit accounts you have open

Back

Money you borrowed from your aunt