FINANCIAL LITERACY - PART 3
EXERCISE AND ANSWERS.
immediately - Answers-If your credit card is stolen, when should you report it to the
credit card company?
closed at customer's request - Answers-When you close a credit card account, it is best
to request the credit card company report it as which of the following to the credit
reporting agencies?
on the card - Answers-Where should you NEVER write your debit card PIN?
Only people you contact - Answers-Who should you give your credit card number to?
Shred them - Answers-What should you do with your credit card statements and
receipts after you have properly reconciled them to protect yourself from identity theft?
transunion, equifax, and experian - Answers-The credit industry has a database of
credit information for over 180 million people. What companies would track and report
this information?
credit history and public records - Answers-what is included in the credit information
database?
Public Records - Answers-what are the major components of a credit history?
payment history - Answers-of the 5 main criteria used to determine your credit score,
which has the most influence over your score?
types of credit used - Answers-of the 5 main criteria used to determine your credit
score, which has the least influence over your score?
contact your creditor - Answers-if you find yourself deeply in debt, what is the first step
you should take to correct the situation?
you lost your house by not making payments - Answers-what does it mean when your
home mortgage is foreclosed?
court system - Answers-who becomes involved in your personal finances when you file
for bankruptcy?
court ordered payment plan - Answers-what happens when you file for bankruptcy?
serious harm - Answers-If you file for bankruptcy, what will happen to your credit score?
EXERCISE AND ANSWERS.
immediately - Answers-If your credit card is stolen, when should you report it to the
credit card company?
closed at customer's request - Answers-When you close a credit card account, it is best
to request the credit card company report it as which of the following to the credit
reporting agencies?
on the card - Answers-Where should you NEVER write your debit card PIN?
Only people you contact - Answers-Who should you give your credit card number to?
Shred them - Answers-What should you do with your credit card statements and
receipts after you have properly reconciled them to protect yourself from identity theft?
transunion, equifax, and experian - Answers-The credit industry has a database of
credit information for over 180 million people. What companies would track and report
this information?
credit history and public records - Answers-what is included in the credit information
database?
Public Records - Answers-what are the major components of a credit history?
payment history - Answers-of the 5 main criteria used to determine your credit score,
which has the most influence over your score?
types of credit used - Answers-of the 5 main criteria used to determine your credit
score, which has the least influence over your score?
contact your creditor - Answers-if you find yourself deeply in debt, what is the first step
you should take to correct the situation?
you lost your house by not making payments - Answers-what does it mean when your
home mortgage is foreclosed?
court system - Answers-who becomes involved in your personal finances when you file
for bankruptcy?
court ordered payment plan - Answers-what happens when you file for bankruptcy?
serious harm - Answers-If you file for bankruptcy, what will happen to your credit score?
