Check your learning: responsible use of credit module

The correct answer is "b. False"

Many financial goals, such as getting an education or buying a house or a car, often require the use of credit. However, not all financial goals require credit. Many financial goals rely on savings. Please visit the protecting your financial well-being page in the setting and achieving financial goals module to read more about saving for your financial goals.

The correct answer is "b. False"

There are various types of loans available with different APR s. Each type of loan has different interest rates, repayment terms, and ways of charging interest. As a result, the total cost of borrowing money using each type of credit can vary significantly. There are many situations in which other types of credit might be less expensive and/or less risky than a line of credit. You should always explore options specific to your situation, but above all, stay mindful of the factors to consider. Please visit the comparing different types of credit products section.

The correct answer is "d. You should seek out credit repair companies who promise to remove negative information from your record sooner than would otherwise be possible."

Lenders will consider your credit rating as a major factor when deciding to lend you money and lenders get information about your credit rating from credit reporting agencies. Your insolvency will affect your credit rating. Beware of any promises to remove negative information from your credit record sooner than would otherwise be possible. By law, this cannot be done. Please visit the factors of lending page to read additional information about credit ratings.

The correct answer is "d. You should seek out credit repair companies who promise to remove negative information from your record sooner than would otherwise be possible."

Lenders will consider your credit rating as a major factor when deciding to lend you money and lenders get information about your credit rating from credit reporting agencies. Your insolvency will affect your credit rating. Beware of any promises to remove negative information from your credit record sooner than would otherwise be possible. By law, this cannot be done. Please visit the factors of lending page to read additional information about credit ratings.

The correct answer is "d. You should seek out credit repair companies who promise to remove negative information from your record sooner than would otherwise be possible."

Lenders will consider your credit rating as a major factor when deciding to lend you money and lenders get information about your credit rating from credit reporting agencies. Your insolvency will affect your credit rating. Beware of any promises to remove negative information from your credit record sooner than would otherwise be possible. By law, this cannot be done. Please visit the factors of lending page to read additional information about credit ratings.

The correct answer is "a. Your track record of timely repayments"

When determining your credit rating, lenders will look at certain factors, such as the timeliness of your payments, the length of your credit history, the amounts you owe and the types of credit used, and any new credit you have recently obtained. Please visit the factors of lending page to read more about the important factors that lenders use to make loan decisions.

The correct answer is "a. Your track record of timely repayments"

When determining your credit rating, lenders will look at certain factors, such as the timeliness of your payments, the length of your credit history, the amounts you owe and the types of credit used, and any new credit you have recently obtained. Please visit the factors of lending page to read more about the important factors that lenders use to make loan decisions.

The correct answer is "a. Your track record of timely repayments"

When determining your credit rating, lenders will look at certain factors, such as the timeliness of your payments, the length of your credit history, the amounts you owe and the types of credit used, and any new credit you have recently obtained. Please visit the factors of lending page to read more about the important factors that lenders use to make loan decisions.

The correct answer is "b. The credit bureau determines who will receive credit."

A credit bureau is a company that collects and gathers information regarding your credit history. The decision to deny or approve someone for a credit request lies with the lender.

The correct answer is "b. The credit bureau determines who will receive credit."

A credit bureau is a company that collects and gathers information regarding your credit history. The decision to deny or approve someone for a credit request lies with the lender.

The correct answer is "b. The credit bureau determines who will receive credit."

A credit bureau is a company that collects and gathers information regarding your credit history. The decision to deny or approve someone for a credit request lies with the lender.

The correct answer is "b. False"

Lower regular car payments may be an advantage of a long-term car loan. However, longer-term car loans can cause you to pay more interest over the term of the loan and it may result in your car being worth less than the amount that you owe on your loan, therefore causing a "negative equity" risk. Please visit the auto financing section to read more about car loans.

The correct answer is "b. False"

Different types of credit have different interest rates, terms, and ways of charging interest. The annual percentage rate (APR) is designed to provide a common measure for comparing the interest rate of different loan products. The APR is a standard way of expressing the interest. APR does not always include all of the costs and fees associated to a loan. Please visit the cost of borrowing section to read more about APR .