Personal Finance - 4.1 Beware of Credit and Debt

Money owed to another person or company...

• debt

• credit

• collateral

• equity

"I'd rather go to bed _____ than rise in debt."

Benjamin Franklin

There were credit cards prior to 1958...

• true

• false

It is okay to co-sign for close and reliable friends

• true

• false

People under the age of 18 cannot legally get their own credit card...

• true

• false

What year did Sallie Mae introduce student loans?

• 1972

• 1958

• 1970

• 1971

Good debt is okay because it will help you get a good paying career...

• true

• false

Debt is one of the most aggressively advertised products ____

• ever

• last year

• in America

• on TV

The first credit card established by Bank America was in...

• 1958

• 1978

• 1948

• 1970

Credit card commercials don't show paying off debt for years

• true

• false