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Team 2
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Teams
Name
Score
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15
×
What means how trusted you are to pay back money you borrow?
FICO
Credit risk
Open ended credit
Creditworthiness
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25
×
How many credit reports can you get for free per year? Why?
Three because there are three different credit reporting agencies
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20
×
What is credit?
Money borrowed now with the understanding it will be paid back later
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10
×
Once your credit score is calculated, there's nothing you can do to change it
False
True
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25
×
What are three things you can do to increase your credit score?
Answers vary
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trap
No points!
Oops!
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fairy
Take points!
5
10
15
20
25
×
shark
Other team loses 20 points!
Okay!
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baam
Lose 25 points!
Oops!
15
×
What is an example of revolving credit?
A credit card
A home loan
A student loan
A debit card
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15
×
How long will a negative thing remain on your credit report
6 minutes
Forever
7 years
10 years
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15
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If you have a good credit score you...
Will make more money each paycheck
Will pay less money in interest
Can not get a debit card
Will pay more money in interest
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15
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What is the annual interest rate you'll be charged if you carry a balance on your credit card?
Over the limit rate
Credit agency rate
Introductory rate
Annual percentage rate
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eraser
Reset score!
Oops!
×
seesaw
Swap points!
Okay!
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rocket
Go to first place!
Okay!
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lifesaver
Give 5 points!
Oops!
25
×
What is a teaser rate and why would credit card companies use one?
A teaser rate is a lower introductory rate used to lure customers so credit card companies can raise the rate later
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10
×
You should give an employer your credit card number after you get a new job
False
True
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×
baam
Lose 10 points!
Oops!
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fairy
Take points!
5
10
15
20
25
×
shark
Other team loses 10 points!
Okay!
×
lifesaver
Give 10 points!
Oops!
15
×
What is a credit score?
An ID number the bank gives you
A three digit number rating a consumer's creditworthiness.
A number on the back of your credit card
A home run
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15
×
Which of these is a part of your credit score?
High school grades
What ex partners think of you
Payment history
Number of facebook friends
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