Chapters 6 - 10 Test Review

Chapters 6 - 10 Test Review - Decision Making for Consumers...

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Decision Making for Consumers Chapters 6 – 10 Review Review The Secret History of the Credit Card video/worksheet 1. Which types of transactions should you not (routinely, at least), use credit for? 2. List some of the major reasons for using credit (borrowing): 3. What is the first step in establishing credit? 4. A useful credit guideline is to make sure your monthly repayment burden does not exceed what percentage of your monthly take-home pay? 5. How can a consumer avoid paying interest charges when using open account credit? 6. When using a bank credit card to obtain a cash advance, when does the interest begin to accrue? 7. What is a rebate (co-branded) credit card? What are some examples? 8. On which type of consumer credit are interest rates generally the highest? 9. Define each of the following types of credit cards: prestige, affinity, secured, student 10. What is a home equity credit line? How does one work? 11. What are some things that you can do to build a strong credit history? 12. What agency provides credit information about individual borrowers to lenders? 13. If you find an error on your credit report, what should you do? 14. What are the key items lenders look at when granting credit? 15.
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This note was uploaded on 03/17/2009 for the course AF 3152 taught by Professor Peggy during the Spring '09 term at Hong Kong Polytechnic University.

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Chapters 6 - 10 Test Review - Decision Making for Consumers...

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