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Financial Literacy For Young Adults Flashcards | StudBud

Explore/Financial Literacy For Young Adults

What is considered an excellent credit score?

What is not a method to improve your credit score?

Financial Literacy For Young Adults

7 terms·StudBud Administration·20 plays

Lets see what you know about financial literacy.

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Questions 7

Answers

1
What is not a method to improve your credit score?
Keep your credit card balances under 30% of your credit limit
Always pay in cash and do not get any credit cards
Only apply for credit as needed
Keep a positive history on your credit report
2
What is considered an excellent credit score?
1000 to 1500
600 to 680
561 to 600
720 to 850
3
Where could you get a free credit report with no annual fees, authorized by Federal Law?
You can’t get a free credit report
Freecreditreport.com
From the U.S. Department of Treasury
Annualcreditreport.com
4
Your credit score is important because:
It can determine whether you can get credit cards
All of the above
It can affect your interest rate if you finance a car or home
It can have an impact on whether you can finance major purchases
5
Federal law gives you three days to cancel the purchase of a new or used car from a dealer.
True
False
6
An example of a want is:
Housing
48’ flat screen TV
Food
Supplies for a class lab
7
Your credit score affects the price you pay for auto insurance.
True
False