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Cards In This Set
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True or False
if you use credit, you give up the ability to spend in the future in order to spend now.
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True
because you must pay interest, you are giving up more future spending than the amount of the loan.
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Using credit can be a good choice as long as you do not borrow more than you can comfortably ________
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Repay
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Homes usually grow in value over time, creating ________?
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Interest
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The interest and property taxes are ________ from federal income taxes.
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Deductible
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Investing in you _______ or ________ usually pays off
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Training or education
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Whe you use credit, do nmot take on more debt payments than ____ %to ____% of your take-home pay.
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20% to 25%
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That is the difference between the amount owed on a home and the home's value?
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Equity
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The Fair Credit Billing Act helps consumers correct credit card billing mistakes.
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True
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To get a loan, lenders judge credit worthiness on the three C's of credit. They are ______, ______, ______
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Character, capacity, and capital
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Lenders buy your credit record from a credit bureau and analyze it to give you a credit _____.
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Rating
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If you pay your _____ on time and do not take on more debt than you can handle, then your _______ rating will be fine.
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Bills, credit
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