Where do banks get the money to lend out to consumers? Options: From their clients' credit card accounts, From their clients' savings accounts, From the Federal government, From their own money vaults
Types of Credit

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Life Skills
•
9th - 12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
From their clients' savings accounts
2.
FLASHCARD QUESTION
Front
How do banks make money off of the credit they issue?
Back
They charge a high interest rate on the loan.
3.
FLASHCARD QUESTION
Front
Which of the following is NOT a typical type of credit? Mortgage, Overdraft, Credit Card, Pre-Paid Debit Card
Back
Pre-Paid Debit Card
4.
FLASHCARD QUESTION
Front
Which of the following is typically a SECURED loan? Auto Loan, Student loan, Credit Card Balance, Overdraft
Back
Auto Loan
5.
FLASHCARD QUESTION
Front
If the collateral for your secured loan can be taken away, why get a secured loan at all?
Back
Because they usually have a lower interest rate
6.
FLASHCARD QUESTION
Front
What may NOT impact the interest rate on your loans?
Back
Your level of education
7.
FLASHCARD QUESTION
Front
True or False: A cosigner's credit history can be affected by the loan they are cosigned on.
Back
True
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