Question
Which type of credit typically gives debtors the most time to repay money they have borrowed?
(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.
(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.
Answers
GPT-4o mini
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!
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!