Managing Credit

Where can you get a free copy of your credit report?

• annualcreditreport.com

• freecreditreport.com

• getmycreditreport.com

• creditreport.gov

What information can you find on a credit report?

• Your medical insurance information

• Your parents' and siblings' contact information

• Your education level

• Inquiries you've made on new lines of credit

The maximum amount you are allowed to carry charge or carry as a balance on a card

• interest

• ARP

• credit limit

• all of these

Something of value that the bank can take if the borrower does not make the required payments

• capital

• collateral

• character

• capacity

What does APR stand for?

• American Peoples Reports
• Annual Progress Report
• American Percentage Rate
• Annual Percentage Rate

Tags

CCSS.7.RP.A.3

What is credit?

• the maximum amount a card holder can carry on a card

• an agreement to attain money, goods, or services now in exchange for a promise to pay in the future

• a record of an individual's past borrowing and repayment information

• fee charged by creditors for using their money

What is a credit score?

• A credit score is a three-digit numerical rating that reflects how likely you are to fail at paying your debts

• A five-digit numerical rating that reflects how likely you are to repay your debt.

• A three-digit numerical rating that reflects how likely you are to repay your debt.

• A credit score is a five-digit numerical rating that reflects how likely you are to fail at paying your debts

What are the three major Credit Reporting Agencies (CRAs)?  

• Equifax
• TransUnion
• Experian
• All of these are correct

Agreeing to be responsible for another person loan payments if that person fails to make them

• Cosigner

• Partner

• Guardian

• Spousal Loan

record of an individual's past borrowing and repayments. Includes information about late payments and bankruptcy.

• Credit

• Creditor

• Credit Rating

• Open end Credit