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