Given something of value for a promise to pay for it later.

What are signs of credit abuse?

All of these are signs of credit abuse

What is a cosigner for a loan?

Someone who agrees to the pay loan if you don't.

All are ways to reduce credit EXCEPT

All of these help reduce credit

All of these are ways to dispute credit report errors EXCEPT one. Which one?

Hope all errors will get corrected on their own.

The #1 way to your manage credit score is

Keep balances low on credit cards and pay off the debt.

Resources to help with debt or credit abuse are

All of these resources can help

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Financial Management

10 termsStudBud Administration784 plays

Review for financial planning and money management.

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Questions 10

Answers

1
The average credit score in the US is
Over 800
700-750
651-699
600-650
2
What does APR stand for?
Annual Percentage Ratio
Annual Percentage Rate
Annual Portfolio Review
Annual Romance Review
3
What is credit?
A grant of money you do not need to repay
Given something of value for a promise to pay for it later.
Something only adults can get
A plastic card that pays things but you don't pay for
4
What are signs of credit abuse?
Errors on your credit report
Debt collectors are calling you
Errors on your statement
All of these are signs of credit abuse
5
What percentage of people find errors on their credit report that may affect their credit?
50%
75%
100%
25%
6
What is a cosigner for a loan?
Someone who agrees to the pay loan if you don't.
Someone who signs a loan with you but you has no repay.
Someone that pays the loan for you, instead of you paying.
Is always a parent or guardian.
7
All are ways to reduce credit EXCEPT
Track your costs, write down expenses
All of these help reduce credit
Make a budget and cut out things you want but don't need
Use cash, store your credit cards in hard to get place.
8
All of these are ways to dispute credit report errors EXCEPT one. Which one?
check for corrections to update to be corrected
send a letter to the credit bureau address & address issue.
wait up to 45 days the credit bureau will review the report.
Hope all errors will get corrected on their own.
9
The #1 way to your manage credit score is
Open many credit cards at once
Max our your credit card and get a new one
Don't get a credit card.
Keep balances low on credit cards and pay off the debt.
10
Resources to help with debt or credit abuse are
Creditors
Family
All of these resources can help
Financial Counselors

Financial Management Flashcards | StudBud