Credit & Debit - Everfi Check In

Front

If you can't get your own credit card independently, what could you do? Options: Become an authorized user on your parents credit card, Get a parent to co-sign on your credit card application, Apply for a secured credit card, All of the above

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All of the above

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Which type of credit card is backed by a cash deposit from the cardholder and can build credit history?

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Secured Credit Card

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What is FALSE about a payday loan? Options: They can provide quick cash, The interest rates are really low, Typically are long term loans, You should avoid pay day loans whenever possible

Back

The interest rates are really low

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Which is true about low credit scores? Options: You will have more lenders to choose from, You may have an easier time renting an apartment, You will be offered a higher interest rates on loans, You will be offered a lower interest rate on loans

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You will be offered a higher interest rates on loans

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What is credit score range?

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300-850

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What is true about a shorter loan - for example 2 years v. 5 years?

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You will pay less in interest.

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How does a larger down payment effect your loan?

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It decreases what you want to borrow and decreases monthly payments.