Which type of credit typically gives debtors the most time to repay money they have borrowed?

Question

(1 point)
Responses

car loans
car loans

credit cards
credit cards

mortgages
mortgages

personal loans

Which types of information may creditors legally consider when determining someone’s creditworthiness? Select all that apply.
(1 point)
Responses

age
age

bill-paying habits
bill-paying habits

gender
gender

expenses and income
expenses and income

ethnicity or race

Which type of bank card immediately deducts payment for purchases from the cardholder’s checking account?
(1 point)
Responses

credit card
credit card

debit card
debit card

prepaid card
prepaid card

smart card

What are some advantages of using credit cards? Select all that apply.
(2 points)
Responses

little to no interest on money owed
little to no interest on money owed

allows you to buy now and pay later
allows you to buy now and pay later

highly resistant to fraud and theft, especially online
highly resistant to fraud and theft, especially online

may offer incentives such as airline or hotel points
may offer incentives such as airline or hotel points

no need to carry large amounts of cash

What is the amount of money that a person takes in over a specified period of time?
(1 point)
Responses

budget
budget

credit
credit

income
income

expense
expense

Why is your credit score important? Select all that apply.
(1 point)
Responses

Banks use it to determine whether you qualify for a loan.
Banks use it to determine whether you qualify for a loan.

It can affect your interest rate.
It can affect your interest rate.

It eliminates interest and fees from your loans.
It eliminates interest and fees from your loans.

It insures your money in case your bank fails.

Answer 1

Here are the answers to your questions based on general financial knowledge:

1. Which type of credit typically gives debtors the most time to repay money they have borrowed?

   • mortgages

2. Which types of information may creditors legally consider when determining someone’s creditworthiness? Select all that apply.

   • bill-paying habits
   • expenses and income

3. Which type of bank card immediately deducts payment for purchases from the cardholder’s checking account?

   • debit card

4. What are some advantages of using credit cards? Select all that apply.

   • allows you to buy now and pay later
   • highly resistant to fraud and theft, especially online
   • may offer incentives such as airline or hotel points
   • no need to carry large amounts of cash

5. What is the amount of money that a person takes in over a specified period of time?

   • income

6. Why is your credit score important? Select all that apply.

   • Banks use it to determine whether you qualify for a loan.
   • It can affect your interest rate.

Feel free to ask if you have more questions!