Guided Notes: Credit Review
Use the Power Point from 4/8/19 entitled "Credit Review P.P." to complete this google form as Mrs. Money Review this material. The Power Point can be found on the class website: tlmoney.weebly.com.
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Name: *
Class Period: *
What is the numerical range of an EXCEPTIONAL Credit Score? *
Who is likely to pay a lower finance charge? *
Erik is a college student and lives in an apartment. Why would his rent be considered a FIXED cost? *
Which of these would be considered a VARIABLE cost when making a budget? *
Slide #6: Tell me what these letters identify on this blank check?  (Ex: H= check #) *
Video#1: 1)What was the statement balance at the end of the month 1 billing cycle? *
Video #1: 2) How much of this amount is interest charges? *
Video #1: 3)What amount is due on the statement  payment Due Date during month 2? *
Video #1: 4) Typically, on what day of the month is the statement payment due date? *
video #1: 5) The amount due on the Statement Payment Due Date during Month 2 is related to purchases from when? *
Video #1: 6) During month 2, why is the credit card balance different than the Month 1 statement balance? *
Video #1: 7) How does a person avoid paying any interest charges on the Statement payment due date during month 2? *
Video #1: 8) Why does the Credit Card balance decrease from $523 to $300 on the Statement Due Date during Month 2? *
Video #1: 9) What are the extra costs of carrying over a balance from Month 1? *
Video #1: 10) In the video, the Month 1 Statement balance of $223 was due for payment 20-25 days later during Month 2, with no interest charges. This is called the "interest-free" grace period on credit card purchases. What do you have to do to make sure that the grace period is really "interest-free"? *
Video #2: 1) What are some reasons to avoid only making minimum payments on credit card balances? *
Video #2: 2) Why does the credit card company set the minimum payment so low, compared with the unpaid balance? *
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