Managing Your Credit

1. Which of the following questions should you ask before making a purchase on credit? (Choose all that apply) Do I have the money to make payments? Is this item something I need or something I want? Will my parents pay back the loan if I don't?	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? Whatever is left over after all other payments are made.
5. Which types of credit are referred to as "revolving credit"? (Choose all that apply) Installment loans Department store credit cards 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 Keep them in your wallet but never use them
7. What is APR? Annual Percentage Rate	8. It is a good idea to pay off your credit cards each month in full. True

Writing:

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?

In the world we are living right now it is very important to have a good credit. Having a good credit can help. when you are buying a house and you are not planning on buying it at once then they won't give you the house because they think you can't pay for it. you can get your credit high by buy lot of stuff with you credit card and paying on time also depends on your job.

Vocabulary:

Fraud: wrongful or criminal deception intended to result in financial or personal gain.(My lawyer was a fraud.)

Unforeseen: unpredicted, unexpected, unanticipated, unplanned, not bargained for, surprising. antonym expected.(that was an unforeseen ending for that movie.)

Direct: extending or moving from one place to another by the shortest way without changing direction or stopping.(I go direct home after school.)

Payment: The action or process of paying someone or something, or of being paid.(Boss when am i getting my payment.)

Unsecured:(of a loan) made without an asset given as security.
• (of a creditor) having made such a loan.
2 not made secure or safe.(I am unsecured about going on that trip tomorrow.)

Tremendous:very great in amount, scale, or intensity.(that was a tremendous game you miss.)

Enable:give (someone or something) the authority or means to do something.( I am enable to play baseball today please go with out me )

Creditworthiness:(of a person or company) considered suitable to receive credit, esp. because of being reliable in paying money back in the past.