Cards, Cars and Currency

Most Americans have 8 credit cards in their wallets.

It is more desirable to be a deadbeat versus a revolver

All of the following impact a credit application ECEPT:

By law, lenders who make car loans must charge all consumers the same fixed interest rate

A credit card lender does not require collateral for a credit card account because it is an unsecured loan.

Applying for 10 credit cards in one year increases your credit score.

All of the following can access your credit report EXCEPT:

In 2019 credit card issuers imposed $104 billion in penalty fees on credit card holders.

About 40 % of Americans carry a balance on their credit cards from month to month

All of the following can legally access your credit report EXCEPT:

The sum total of all payments paid on a car loan is equal to the purchase price of the car.

All of the following are in a credit report EXCEPT:

A debit card does not have a revolving line of credit.

All of the following are in a credit report EXCEPT:

The average billing cycle for a credit card is 15 days

All of the following information is used to decide whether to give you credit EXCEPT

If a consumer does not make payments on a loan for a vehicle, the vehicle is repossessed - eliminating the debt.

Most Americans have 4 credit cards in their wallet.

Consumers should record their transactions in a check register at the end of the month.

If a credit card is lost or stolen, the maximum amount a cardholder may pay is $50 .

APR stand for annual percentage rate and is the cost of credit on an annual basis.

Financial institutions make most of their profits from auto loans.

The average credit card balance for Americans in 2020 was:

"Caveat emptor" is a Latin phrase that means the consumer is always right.

Who has recently viewed your credit report is included in your credit report

A FICO score of 760-850 will most likely result in a low interest rate car loan.