Credit Pre-Assessment Prep

Front

What is required to get a loan?

Back

Good credit

Front

How does a lender make money from a loan?

Back

By charging a finance charge

Front

Which credit health category has an estimated APR of more than 25%?

Back

Bad

Front

What does 'Capacity' in credit score assessment evaluate?

Back

Your income vs. debt

Front

Which factor is NOT directly assessed in a credit score? Character, Capacity, Capital, Age

Back

Age

Front

What might a lender do if you fail to pay a loan?

Back

Take something you own

Front

What does a cosigner allow you to do?

Back

Use their credit.

Front

Which FICO® Score range is considered "Exceptional"?

Back

800-850

Front

Which FICO® Score range is considered "Very Good"?

Back

740-799

Front

What is a financial consideration before making a purchase with a credit card?

Back

Can I save up for it or do I need it now?