Types of credit & credit providers

Which of the following is NOT a credit provider?

• Bank

• Loan shop

• Finance companies

• Interest rate

Which of the following would be a cost of a loan if you ensure your loan payment is paid by an agreed time? Tick all that apply

• Interest

• Penalties

• Set up Fees

What is the type of loan you get to buy a house?

• Hire purchase

• Mortgage

• Credit card

• Personal loan

These loans are used for all kinds of things such as weddings, renovations, holidays

• Hire purchase

• Mortgage

• Credit card

• Personal loan

These loans are usually given by shops that allow you to take a product home for example, a television or a washing machine and use it while you’re still paying it off.

• Hire purchase

• Mortgage

• Credit card

• Personal loan

These are usually issued by a bank and allows you to borrow money up to a certain limit to purchase goods now you usually have to make regular minimum repayments but can earn extras such as air points

• Hire purchase

• Mortgage

• Credit card

• Personal loan

From the following list which credit provider would usually have lower interest rates charged?

• Finance companies

• Loan shops

• Banks

• Pay later options

After pay is an example of which source of credit?

• Bank

• Loan shop

• Pay later option

• Finance company

After pay is an example of which source of credit?

• Bank

• Loan shop

• Pay later option

• Finance company

Buying a bed from Smith City and paying it off at a later date would be an example of which source of credit?

• Bank

• Loan shop

• Hire Purchase

• Finance company