H&R block budget quiz 3 latest update 100% pass

H&R block budget quiz 3 latest update 100% pass How does credit utilization affect your credit score? Keeping credit utilization below 30% increases your score. Which would not be identifying information included in a credit report? Marital status What would be the most likely difference between loans offered to someone with a good credit score versus a loan offered to someone with an excellent score? The person with good credit will pay a higher interest rate than the person with excellent credit. Which best describes the main role of the three major credit reporting agencies? Compile consumer credit and loan information and provide it to lenders and businesses Which is the best way for a college student to start building their credit score? Apply for a credit card, use it to make small purchases and pay the full balance each month. Which of the following does not use consumer credit scores in the course of business? Graduate schools for admissions purposes Which is the best definition of credit? An agreement to receive goods or services with a commitment to pay later. Which reports on-time payments as positive transactions for a credit report? Car loan payment Which is an example of an open-ended revolving loan? Credit card Which is not a benefit of using a credit card when traveling? It can be used as a legal form of identification in most states. In what way can using a credit card be like getting an interest free loan? Pay the balance in full at the end of the month and no interest is charged. Which is a drawback of using credit cards? Many consumers find they spend more money if using a credit card. Why is it important for a consumer to know their credit utilization on their credit cards? High credit card utilization can lead to a reduction in a cardholder's credit score. What is a normal consequence of carrying a balance on a credit card? The net cost of the purchase will be higher. What is the time limit for disputing a billing error or credit card charge? 60 days after receiving the bill Which is an automatic consequence of only making the minimum payment on a credit card? Interest will accrue on purchases previously made. Which is true of credit card interest? The rate is higher than that of other consumer loans. What is the maximum cost to a cardholder if they lose their credit card and report it within 24 hours? $50 In what way is a gas station credit card different than a bank credit card? Gas station cards only work at those gas stations. What is the most important consideration if using financial or shopping apps on a mobile device? Have a strong password or security feature to log into the device itself. Which is a sign that identity theft has taken place? noticing account withdrawals you don't remember making David is reviewing his credit card account online and notices charges that he did not make. Besides contacting the credit card company what else should he do? Change his login and PIN for this and all other accounts. Which is true when it comes to your Social Security number? It should not be printed on checks or used as a login.