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If your credit score is low?
interest on loans will be higher
How to close a credit card?
call+write company then destroy card
T or F? your credit report can be viewed once a year?
True
First time credit application?
get a secured credit card
Can medical info be used in a credit report?
False
is it good or bad to apply for lots of credit at once?
bad
What is borrowing?
spending future income
What is open-end credit?
when the borrower doesn't have to apply for credit each time desired
what is closed-ended credit?
equal payments on a regular basis
How much money can you borrow?
20% of your net income
What is APR?
Annual percentage rate
How can you get a penalty APR?
if your payments are late
when can you get your first credit card?
18. proof of income or cosigner
Whats a credit card best used for?
online purchases
when you receive your credit card you must?
sign the back, have photo ID
What should you do once a year?
check your credit score!!!
Whats a premium?
monthly payment
what is a deductible?
what you pay up from that the insurance doesn't cover
what is co-insurance?
% you pay after deductible
what does auto liability insurance do?
pays for loss of other people
property insurance?
loss to the insured person
Life insurance?
when you have dependents
what is a beneficiary?
receive proceeds upon death
what is the renter responsible for?
his/her insurance
phone purchase?
preview shipping and return policies
unbiased source?
review from independent company