Credit - Social Studies (Gianna, Brianna, Sophia)

Which of the following is an advantage of using credit ?

• Increased impulse buying

• Don't have to carry cash

• Requires additional fees

• Higher interest on purchases

Which of the following is a disadvantge of using credit?

• Don't have to carry cash

• Combines bills into one payment

• Creates a record of purchases

• May require additional fees

How many rights were created?

• 0

• 9

• 6

• 2

True or false - Everyone has rights and responsibilities.

• True

• False

Which of the following is part of your responsibilities as a citizen?

• Borrow only what you can repay

• Never give your card number over the phone unless known

• Report lost or stolen credit cards promptly

• Read and understand the credit contract

Which of the following are part of the 5 C's?

• Character

• Composure

• Collateral

• Commence

Which of the following are sources of credit?

• Revolving Credit

• Installment Credit

• Single Payment Credit

• All of the above

To build a good credit history, what do you need to do?

• Pay all bills promptly

• Use a big loan for your savings account

• Open a checking acount and bounce checks

• Open a savings acount and make regular deposits

Should you have good credit?