everfi module 5

using a loan could help with the purchase of which of the following?

a house

secured loans are less costly than unsecured loans because ___

they usually have a lower interest rate, they require collateral, they are less risky for the financial institution

what is a benefit of having a good credit score

when you need a loan, you'll have more loan offers to pick from

what option will NOT be available if you are behind on loan payments?

you can ask to get out of your loan

what should you NOT use a loan to purchase?

Airline tickets to your dream vacation

which of these items is NOT important to consider when selecting a credit card

The look of the credit card.

what is NOT a benefit of having a good credit score?

You'll get accepted to better education institutions.

all of the following are benefits to paying full balance on your credit card each month EXCEPT:

Your credit score can decrease.

what will happen to your credit score if you do not manage your debt wisely?

Your credit score will go down

what could be a good option available to you if you are behind on loan payments?

a financial institution may offer for you to pay a little now and pay the rest after your next pay day

the cost of a secured loan is typically lower than the cost of an unsecured loan because ___

it requires collateral.

which is a positive reason for using a credit card to finance purchases?

paying it off on time can help build your credit history

recommended methods to protect yourself from identity theft and fraud include ___

placing a credit freeze with the credit bureaus

which of the following will help you protect yourself from identity theft and fraud?

regularly monitor your credit report, contact lenders and credit bureaus to address incorrect information, and freeze your credit

not managing your debt wisely can result in ________.

A decrease in your credit score

when looking for pre-approval on a car loan you should...

compare pre-approval offers & select the on that is best for you