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Credit History Flashcards | StudBud
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#financial literacy #math #grade6
Flashcards
26 cards
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Practice quiz
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Questions
26
Answers
1
Banks will offer protection if lost or stolen.
Both
Debit
Credit
2
You pay your groceries and the cashier gives you back $20.
Debit
Both
Credit
3
Overdraft fees may be charged if you don't have sufficient funds when buying with it.
Both
Debit
Credit
4
After a purchase, Emma was late making a payment and was charged a fee
Credit
Debit
Both
5
This card is made of plastic.
Debit
Both
Credit
6
When do you need credit?
When you apply for a credit card.
When you apply for a loan
When you apply to buy a house.
All of the above
7
It is like taking a loan that you need to pay later.
Debit
Both
Credit
8
What is the national average credit score?
500
700
850
711
9
What does bad credit say about you?
That you have a lot of money
That you are young.
That you are hard to trust with a loan or credit card
That you watch a lot of bad movies.
10
What does credit measures?
How well someone has made payments in the past.
All of the above.
How trustworthy someone is with money.
How likely someone is to pay back a loan
11
You can get one when you turn 16 with parent approval.
Credit
Debit
Both
12
What does it takes to keep a good credit score with credit cards?
Thinking about making your payments but not making them
Making most of your payments most of the time
Making your monthly payments on time.
Never making your credit card payments.
13
If you pay your full amount of your purchases, the bank can give you rewards or points.
Credit
Both
Debit
14
Use at an ATM to withdraw money.
Both
Credit
Debit
15
What would a 590 credit score be considered?
Bad
Fair
Good
Excellent
16
Linked to a checking or saving account.
Debit
Both
Credit
17
What does good credit say about you?
That you are easy to trust with a loan or credit.
That you are spoiled.
That you have many credit cards.
That you have a lot of followers on Instagram.
18
No interest is charged because no money is borrowed.
Debit
Both
Credit
19
It is use to purchase goods and services.
Debit
Credit
Both
20
You can check your transactions online
Debit
Both
Credit
21
It has a magnetic strip on the back
Debit
Both
Credit
22
Your money can be split into a checking and a saving accounts.
Credit
Debit
Both
23
You pay a TV. You will receive a bill for the TV at the end of the month.
Both
Credit
Debit
24
What is credit score?
A 8 digit number that you use to open your email
A 4 digit number to unlock your phone.
3-digit # that is assigned once you start building credit
Your STAAR result.
25
Which of the following probably has the highest credit score?
An 18 year old college freshman
A 20 year old waitress with two active cards.
50 year old with 5 credit cards and lives in a rent apartm.
40 year business owner, 2 cars, a house and 4 active cards
26
If you use it wisely, it is very convenient.
Debit
Credit
Both
