Credit Review

Front

The more credit cards I have, the higher my credit score will be.

Back

False

Front

Do all credit cards charge an annual fee and offer rewards?

Back

False

Front

The minimum age to be added as an authorized user on a credit card is 18.

Back

False

Front

Which of these is NOT one of the C's of credit? Character, Capacity, Collateral

Back

Credit Score

Front

How do banks make money off of the credit they issue?

Back

They charge interest that is factored into the monthly payment.

Front

Which of the following is NOT a typical type of credit? Mortgage, Auto Loan, Credit Card, Debit Card

Back

Debit Card

Front

What is an advantage to getting a secured loan?

Back

They usually have a lower interest rate than unsecured loans.

Front

Which of these will NOT impact the interest rate on your loan?
Your relationship with the financial institution.
Your credit score.
The principal amount of the loan.
Your ethnicity or gender.

Back

Your ethnicity or gender.

Front

True or False: A cosigner's credit history can be affected by the loan they cosign.

Back

True

Front

When a loan is amortized, which of these makes up the larger portion of your early payments? Principal, Interest

Back

Interest