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Borrowing Flashcards | StudBud
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Borrowing
Borrowing
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This is a review tool for my Health III/Personal Finance class.
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Bad credit scores or no credit history often leads to
higher interest rates
all of the above
more rejections for apartments, loans, etc.
higher insurance payments for cars & other property coverage
2
To get a credit report when you start using credit, go to:
debtisawayoflife.com
yoyohoneycredit.com
annualcreditreport.com
checkmyscore.com
3
All of the following are key criteria that lenders use in determining loan approvals EXCEPT:
community
character
capital
conditions
4
A history of steady employment and increasing income is referred to as
character
capital
capacity
collateral
5
Building strong borrowing habits now includes
avoiding overdrafts in your checking and savings accounts
managing your cash flow so you rarely need to borrow money
returning anything you borrow promptly and in good condition
all of the above
6
Examples of information required on a credit application includes
date of birth
social security number
all of the above
full legal name
7
A person with poor money management habits who develops a poor credit score is referred to as a
cosigner
minor
subprime borrower
loan shark
8
Upon signing a credit card or loan application, you are entering into
a contract
deep doo doo
an informal agreement
a casual financial relationship
9
All of the following are credit reporting agencies EXCEPT
Equifax
TransUnion
ExpressCredit
Experian
10
A three digit number based on a person's credit report is called a(n):
credit score
interest rate
APR
capital