Which of the following can have a negative effect on your credit report?

having credit cards balances at the credit limit

Which statement best describes purchases made with a debit card?

purchases made are withdrawn directly from a bank account

Which of the following will cause your credit score to decrease?

2 months late on your mortgage payment

What are the advantage of using a credit card over a debit card to pay for a purchase?

using a credit card responsibly builds good credit history

Which situation describes the use of a debit card?

pay for groceries using a plastic card and enter pin

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financial literacy

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#checking, #debit and credit cards, #credit report

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Questions 10

Answers

1
When you have a high credit score, which of the following will occur?
all of the above
receive better credit card offers
receive better auto loans
speed up credit approvals
2
Which of the following can have a negative effect on your credit report?
paying credit card balance each month
having only 2 credit cards
having credit cards balances at the credit limit
working at the same job for 15 years
3
Which statement best describes purchases made with a debit card?
purchases mad with this card are subject to a credit limit
purchases made with this card can be paid over time.
purchases made are withdrawn directly from a bank account
purchases made with this card are subject to interest.
4
Which of the following will cause your credit score to decrease?
paying cash for your new oven
2 months late on your mortgage payment
paying the balance of your car loan
getting a raise from your employer
5
What are the advantage of using a credit card over a debit card to pay for a purchase?
using a credit card is never a advantage over using a debit
using a credit card responsibly builds good credit history
using credit card is less expensive
using a credit card is easier than using a debit card
6
Which situation describes the use of a debit card?
use a plastic card and receive bill end of the month
pay for groceries using a plastic card and enter pin
you pay for your groceries and the ashier gives you change
you pay for groceries and you enter amount into your check
7
How much will it cost to have a checking account at Bank of Broadway for one year?
$120
$240
$480
$360
8
balance: $1570, deposit $2610, deductions $933, 564, 75 wrote checks 50, 200, 175.
not here
$4180
$2183
$1997
9
What information is not listed in your credit report?
loan information
balances on credit cards
favorite hobbies
identity information
10
Pepe wants to buy a new car.He was given loan with low interest rate. What is his credit score?
400
450
560
790

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