Managing Your Credit

1. Which of the following questions should you ask before making a purchase on credit?
Do I have the money to make payments?
Is this item something I need or something I want?
2. Which of the following offer credit cards? (Choose all that apply)
Banks
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?
10% to 20%
5. Which types of credit are referred to as "revolving credit"? (Choose all that apply)
Lines of credit
6. How can you protect yourself from credit card fraud? (choose all that apply)
Keep track of cards by making a list of important information about the cards
Check your statement each month by using receipts for purchases you have made
7. What is APR?
Annual Performance Rate

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?

I think that it is important to have a good credit because If you have a good credit you have more possibles to have a good future for our family and us. We should pay every payment bill in time. Don't be late with you payment.

Vocabulary:

Fraud: There are many frauds in credit cards.
Unforeseen:
Direct: I always made a direct payment.
Payment: My payment is due tomorrow.
Unsecured: This method is unsecured.
Tremendous:
Enable: I was enable to pay that.

Creditworthiness: