JA Financial Literacy: Theme Three

Front

Which of the following do NOT involve interest payments on purchases? Personal loans, Credit cards, Debit cards, Title loans

Back

Debit cards

Front

Which of the following is a disadvantage of using a credit card? Options: The convenience of purchasing now, The ability to purchase expensive items, It is widely accepted for payment, It is subject to interest and fees

Back

It is subject to interest and fees

Front

Which of the following has a maximum credit limit that can be used for multiple purchases and can be paid back over time? Options: Title loans, Credit cards, Mortgage, Paycheck loan

Back

Credit cards

Front

Which of the following is NOT an example of an installment loan? Mortgage, Auto loan, Debit cards, Student loan

Back

Debit cards

Front

What is the best way to improve a bad credit history? Options: Apply for additional credit cards, Pay off the lowest interest rate cards first, Use credit cards instead of paying with cash, Pay more than the monthly minimum payment

Back

Pay more than the monthly minimum payment

Front

Which of the following have the highest interest rates? Payday loans, Personal loans, Credit cards, Student loans

Back

Payday loans

Front

What affects an individual's credit history? Options: Their decisions about loaning others money, Their major financial transactions, such as car purchases and rent payments, Their important achievements, such as graduating from college and having children, Their ability to save money for retirement

Back

Their major financial transactions, such as car purchases and rent payments

Front

How can a credit report help you identify suspicious activity related to your finances?

Back

A credit report will show fraudulent credit accounts opened in your name.

Front

Which of these steps that Alaina took negatively impacted her credit score the MOST? Options: She opened a lot of accounts in a short amount of time., She opened her first credit card at 18., She only made minimum payments on the new cards., She graduated college.

Back

She opened a lot of accounts in a short amount of time.

Front

What is the highest possible credit score?

Back

850