1_Good Credit Flash Cards

Question	Answer
True or False: Credit is the ability to borrow money or obtain goods by paying everything at the time of purchase.	False: Credit is the ability to borrow money or obtain goods by paying LITTLE or no money at the time of purchase.
Name some reasons someone might need credit.	Buying a home, getting a job, getting a phone service, renting an apartment, finance a car, get a loan, obtain a credit card.. ect.
Would you have GOOD credit or BAD credit if: you paid your bills late, skipped payments, and filed bankruptcy?	BAD credit
Would you have GOOD credit or BAD credit if: you paid your bills on time and never skipped payments.	GOOD credit
How often can you request a free copy of your credit report?	Once a year
Who can get a copy of your credit report?	You, your employer, your landlord, credit companies, banks
True or False: you should accept the first credit offer you get without shopping around.	FALSE
True or False: you should only pay the minimum amount due for your credit card bill -- never pay more!	FALSE
You promise to pay the original cost later or over time plus _____________.	Interest

Resource summary

	Created by Ashley Emery over 8 years ago

	Copied by Ashley Emery over 8 years ago