What does it mean to use credit?
Introduction to credit

Flashcard
•
Life Skills
•
8th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Borrowing money to pay for something, and later paying that loan back, with interest
2.
FLASHCARD QUESTION
Front
Credit cards are a form of which of the following? Loan, Gift, Insurance
Back
Loan
3.
FLASHCARD QUESTION
Front
If you do not pay your credit card in full you may be charged which of the following? A one time fee, Interest, An overdraft fee
Back
Interest
4.
FLASHCARD QUESTION
Front
A lower interest rate means you pay ________ money. A higher interest rate means you pay __________ money.
Back
less, more
5.
FLASHCARD QUESTION
Front
Debit and credit cards work exactly the same way.
Back
False
6.
FLASHCARD QUESTION
Front
What happens when you use your debit card?
Back
You pull money directly from your checking account.
7.
FLASHCARD QUESTION
Front
A key difference between a debit and credit card is....
Back
You can build a credit score when using a credit card responsibly, not with a debit card.
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