Would the following situation be an appropriate or inappropriate way to use credit: Use store credit to buy a new refrigerator to replace one that is no longer working.

Would the following situation be an appropriate or inappropriate way to use credit: Sign a five-year loan for a used car.

Would the following situation be an appropriate or inappropriate way to use credit: Set up a six-month payment plan to pay hospital X-ray fees after being injured in an accident.

The total amount of money you owe other people is

A period of time before interest starts accumulating on charged purchases is

What you pay to use another person's money is

A reference of how you have used credit in the past is

Something of value that lenders can repossess if you are unable or unwilling to repay a loan as promised is

A way for you to buy something now and pay for it later is

When items are bought on credit and paid for over a long period of time, the cost to the buyers is

Credit cards are an example of

A car loan is an example of

A personal loan where the borrower may have to pay the amount borrowed plus interest all at once is

Your monthly electric bill is an example of

All of the following are advantages of using credit EXCEPT

Annual fees are paid

A mortgage is a loan to purchase __________?

A rating used by credit reporting companies to help lenders decide whether and/or how much credit can be extended to a borrower

The maximum amount you can charge on a credit card is called the

Which of the following is the best definition of a minimum payment on a credit card?

If you borrowed $50 from a friend, and then had to pay back $60, what is the original $50 called?

A business that gives you a loan is

A regular paycheck helps your credit score because

A savings account

You can order a copy of your credit report

Improving your credit score will let you get

Matt is wanting to buy a new car. After researching the options he wants, he discovers that the total cost for the sale, including taxes and registration, will be $8,000. Matt has saved $1,500 to use as a down payment. He also qualifies for dealership financing of 3.9% for 3 years. How much will he pay per month to repay the loan over the next three years?

Of the following, which is the best strategy to reduce excessive debt?

Making late payments will __________ your credit score

Keeping the same credit card for several years will __________ your credit score.

According to the 20-10 rule, what is the guideline for the maximum amount you should owe each month for loan payments (not including a home loan payment)?

Which is not a type of credit?

Madeline is comparing her options to borrow $5,000 to buy inventory and equipment for her new sub sandwich shop. Which loan appears to be the best deal? (Hint: Use the simple interest formula to estimate the interest.)

Suki will soon turn 18 and wants to move into her own apartment in a few years. But she is worried that she won’t be able to rent an apartment without any credit history. What can Suki do to start building a good credit history?

Which of the following agencies provide free credit reports for consumers?

Credit experts recommend that you check the status of your credit reports at least

Who may review your credit report without your permission?

Which of the following can impact your credit score?

If you use a credit card to buy something online from the Internet, look for the following on the Web site page:

Who is responsible for reporting identity fraud?

You can’t find your credit card, and you think it may have been stolen. What should you do?

Use the 20-10 Rule to calculate the debt limits for the following situation: What would the maximum total debt be with an annual net income of $42,000?

Use the 20-10 Rule to calculate the debt limits for the following situation: What would the maximum monthly payment be with an annual net income of $42,000?

Use the 20-10 Rule to calculate the debt limits for the following situation: What would the maximum total debt be with an annual net income of $19500?

Use the 20-10 Rule to calculate the debt limits for the following situation: What would be the maximum monthly payment be with an annual net income of $19,500?

Use the 20-10 rule to calculate the debt limits for the following situation: What would the maximum total debt be with an annual net income of $28,000?

Use the 20-10 rule to calculate the debt limits for the following situation: What would the maximum monthly payments be with an annual net income of $28,000?

Would the following situation be an appropriate or inappropriate way to use credit: Take out a one-year loan to buy a mountain bike

Would the following situation be an appropriate or inappropriate way to use credit: Borrow $5,000 to pay for a wedding reception