Personal Finance: Credit and Debt

choosing a credit card

Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when

not having late fees

Benefits to paying the full balance of your credit card each month include:

not great because they offer higher interest rates

Going directly to a car dealer for a loan to keep things simple is a..

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

What is a benefit of having a good credit score?

you can ask to get out of your loan

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

airline tickets to your dream vacation

What should you NOT use a loan to purchase?

Paying it off on time can help build your credit history

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

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

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

a decrease in your credit score

Not managing your debt wisely can result in

they have lower interest rate, require collateral, and are less risky

Secured loans are less costly than unsecured loans because