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Select the most likely consequence of making payments late to a card that has an introductory rate |
Fees and paying the default interest rate on the balance |
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Zach is an authorized user on his parents’ credit card. What may happen if Zach doesn’t use the card in a responsible way? |
Zach and Zach’s parents’ credit may be damaged |
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If the typical balance on Lucy’s credit card is is $650 and the interest rate (APR) on her credit card is 18%, how much in interest would you expect Lucy to be changed in a typical month? |
About $9.75 |
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Suppose you have two credit cards. The first has a balance of $410 and a credit limit of $1,000. The second has a balance of $510 and a credit limit of $1,000. What is your overall credit utilization? |
46% |
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Jerry lost her credit card and instead of reporting it right away, she decides to continue looking for it for a couple of days. On the second day, she makes the call and reports the card lost/stolen to the credit card company. She then logs into the account activity page of her credit card and sees a recent $500 purchase that was made by someone else. How much of this $500 charge will Jerry have to pay? |
$0 |
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Which of the following are fast ways of improving your credit score (within 60 days)? |
All answers except cancelling credit cards can quickly improve credit score |
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After your loan application is submitted, who decides if you get approved for the loan? |
Loan Underwriter |
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People with a lower credit score typically pay — interest rates when borrowing money which — the cost of borrowing. |
Higher, increases |
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Whose responsibility is it to identify credit report errors? |
It is your responsibility to identify mistakes and report them |
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Select the scenario most likely to build your credit (improve your credit score). |
Borrow 10%-30% of the credit limit on a credit card and pay the full balance on time every month. |
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What is important for an internet user to know about https:// ? |
It should be contained in the website URL if you’ll be providing any personal information |
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Which one of the following account login credentials (username and password) is most important to keep secure? |
Primary Email account |
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Which of the following is a small piece of data ( a text file) sent from a website and stored on the user’s computer by the user’s web browser while the user is browsing? |
Cookie |
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Jakob is stuck in the airport on a long layover while traveling for work. He sees two WiFi’s he can log onto: one says Airport WiFi and the other says Free Airport WiFi. He needs to sign on and pay some bills. Which WI-Fi option should he chose? |
Neither until he verifies that it is the official Wi-Fi offered by the Airport and he makes sure he is using SSL and an up-to- date firewall. |
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Fraudsters who are successful in their phishing scam may be able to: |
All answers are possible |
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