Credit Report and Credit Score | Baamboozle - Baamboozle

English 15 Public

Review Vocabulary for basic credit report and credit score

Study Slideshow

What do banks see in your credit history?

payment history and borrowing accounts

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Why is a credit score important?

It shows if you are can pay your loans and credit cards every month.

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Do you have to pay interest on loans.

Yes, you pay interest every month on a loan.

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What is in your credit report?

It shows your personal information and credit history.

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Can you payback money you borrow 1 or 2 months late?

No, the bank will report late payments on your credit score.

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Is my current job was one I had in the past.

No, your current job is the one you are working at right now.

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What is another name for a financial institution?

a bank

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When is your employment history?

These are jobs that I had in the past.

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Why is my payment history important?

It tells the bank I can make my payments all the time.

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Is my credit limit the most I can borrow?

Yes, this is the most the bank will let you borrow.

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What is interest?

It is an extra fee that you pay every month when you borrow.

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List 3 ways you can borrow?

loans, credit cards and, mortgage

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What is the difference between credit cards and loans?

Credit cards you can use to many different things. A loan is only for 1 thing.

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What is a lender?

A lender is the person or bank that is giving you money.

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What does "to owe" mean?

It means to give money back that you borrowed.

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