Deca 64-72

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A loan can be denied by a lender because of a person’s: education, health, credit history, or gender?

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credit history.

Front

Which of the following individuals has financial problems? A person who is borrowing money to buy a house. A person who has a loan for college. A person who uses a credit card to make most purchases A person who is unable to pay his rent.

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A person who is unable to pay his rent.

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A low credit score can negatively affect a person’s ability to

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rent an apartment.

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One difference between a debit card and a credit card is that

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debit card payments are immediately deducted from the person’s bank account.

Front

An advantage of having a credit card is that it helps a person to

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limit the amount of cash she has to carry.

Front

Which of the following helps to build a strong credit history?
- Having a steady employment record.
- Reporting a lost credit card within 24 hours.
- Using an ATM several times a month.
- Being a responsible driver.

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Having a steady employment record.

Front

The grace period refers to the time permitted for paying a credit card bill to avoid a late fee.

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permitted for paying a credit card bill to avoid a late fee.

Front

The Truth-in-Lending Act requires that borrowers be given

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information on the cost of the loan.

Front

Which of the following credit cards makes the most sense for a person that pays his balance every month? A credit card with a 5% fixed interest rate, A credit card with a 0% interest rate for the first six months, A credit card that offers 1% cash back rewards on all purchases, A credit card with a high APR.

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A credit card that offers 1% cash back rewards on all purchases.