Financial Management Orientation

Credit Review – Answers

1. False – Credit cards are good for emergencies
2. True – Always be aware of all possible fees
3. False – There is no “end of the month bill” for debit cards. Purchases made with a debit card are automatically deducted from the checking account they are associated with
4. False – Many people can access your credit history, including; lenders, landlords, utility providers and potential employers
5. True – www.annualcreditreport.com allows you to check your credit history for free, once a year. You should check it annually for errors.
6. All of the above. Your payment history, number of credit cards, their balances, and loans all affect your credit score.