Credit Score and Credit Report

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What is a credit score?

Back

A credit score is a numerical representation of a person's creditworthiness, based on their credit history and financial behavior.

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What does a credit report contain?

Back

A credit report includes information about your credit accounts, payment history, outstanding debts, and public records like bankruptcies.

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What is a credit limit?

Back

A credit limit is the maximum amount of money that a credit card issuer allows you to borrow on a credit card.

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What is a debit card?

Back

A debit card is a payment card that deducts money directly from your checking account to pay for purchases.

Front

What is a credit card?

Back

A credit card is a payment card that allows you to borrow money from the card issuer up to a certain limit to make purchases.

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What is payment history?

Back

Payment history is a record of your payments on credit accounts, including whether you paid on time or missed payments.

Tags

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

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What is a check?

Back

A check is a written order directing a bank to pay a specific amount of money from your account to another person or business.

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What is a finance charge?

Back

A finance charge is the cost of borrowing money, typically expressed as a percentage of the amount borrowed.

Tags

CCSS.7.RP.A.3

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What is a co-signer?

Back

A co-signer is a person who agrees to take responsibility for a loan if the primary borrower fails to make payments.

Front

What is the difference between a credit card and a debit card?

Back

A credit card allows you to borrow money up to a limit, while a debit card uses your own money from your bank account.