Non-Fiction III

1. Which of the following questions should you ask before making a purchase on credit? (Choose all that apply)
Is this item something I need or something I want?

2. Which of the following offer credit cards? (Choose all that apply)
Retail stores

3. If you find you must make a larger purchase using a credit card, what is the "rule of thumb" for paying off the debt?

  Pay off the debt within six months

4.To what percentage of your take-home income should your debt payments be limited?

  25% to 50%

5.Which types of credit are referred to as "revolving credit"? (Choose all that apply)

  Mortgages

6.How can you protect yourself from credit card fraud? (choose all that apply)

  Check your statement each month by using receipts for purchases you have made

7.What is APR?

  Annual Percentage Rate

8.It is a good idea to pay off your credit cards each month in full.

  True

Why is it important to have good credit in the world today? What will it help you to do? How will you plan to obtain credit and maintain a good credit history? 

 

 Its important to have good credit in the world today because that way you have a clean record and that way they could let you borrow money. The more you borrow money and pay it on time you get more credit. If I had a credit card I will pay what I borrow on time. I will pay on time to have my record clean and that way they trust me when I borrow money.