What are the 3 C's of credit worthiness?

Capacity, character, collateral

What's the most income you should use on monthly credit

No more than 10% of what you bring home

Allows you to spend money that is loaned by a financial institution

A loan and bill payment history

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UJIMA- FINANCIAL LITERACY

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Answers

1
How often can you check your credit report
Once every six months
Never. You always have to pay if you want your real report.
It depends on how many “free” credit score sites you can sign up for
Once every year
2
What are the 3 C's of credit worthiness?
Capital, credibility, creed
Comedic value, chemical dependency, can-do spirit
Charge offs, credit score, costs
Capacity, character, collateral
3
How much money should you put into savings every month
All free cash flow you have left at the end of the month.
Whatever change you can dig out of your couch and find on the floorboards o
10% of each paycheck
2% of each paycheck
4
What's the most income you should use on monthly credit
No more than 30% of your gross income
As much as it takes to pay off your debts in-full every month
No more than 10% of what you bring home
None. Why pay, when you can just dodge the collectors
5
Mallory's credit limit is $5,000, her outstanding balance is $2,700, indicating that she has how much available credit
A. $1,300
A. $3,300
A. $2,700
A. $2,300
6
What are the three types of expenses in your budget
Pay now, pay next month, pay upon death
Wants, Needs, Bills
Flexible, Floating, Fixed
Fixed, Flexible, Discretionary
7
What kind of credit card can you get with bad credit or no credit score
Any, as long as you can find a cosigner
Remedial
Probationary
Secured
8
A credit card
Is the same as a credit card
Is available to anyone who has a savings account at a bank or credit
Always you to borrow an unlimited amount of money
Allows you to spend money that is loaned by a financial institution
9
What is a draw back to using a credit card
A. no credit limits
A. high finance charges
A. cash back rewards
A. no finance charges
10
A credit report is
A list of your financial assets and liabilities
A loan and bill payment history
Your monthly credit card statement
Your credit line with your financial institution

UJIMA- FINANCIAL LITERACY Flashcards | StudBud