Credit Card Jeopardy Welcome to… But first, a message from our sponsor. Did you know….

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Presentation transcript:

Credit Card Jeopardy Welcome to…

But first, a message from our sponsor. Did you know….

Credit Cards 101 Types of CardsGeneral CreditCredit Scores Credit Card Knowledge $100 $500 $1000 $2000

Types of Cards - $100 Answer: A flexible credit card account accepted for purchases anywhere made available by a financial institution.

Times up!

Types of Cards - $100 Question: What is a bank credit card?

Types of Cards - $500 Answer: A high status credit card account which requires higher credit qualifications and offers special benefits.

Times up!

Types of Cards - $500 Question: What is a prestige card?

Types of Cards - $1000 Answer: A credit card account made available by a financial institution with the logo of a sponsoring organization.

Times up!

Types of Cards - $1000 Question: What is an affinity card?

Types of Cards - $2000 Answer: An account which allows for customers to make credit card purchases at a particular retailer such as The Buckle or Old Navy.

Times up!

Types of Cards - $2000 Question: What is a retail credit card?

And now, another word from our sponsor…

General Credit - $100 Answer: The amount of time, in days, allowed to the cardholder between the day the items are charged on the credit card and the day finance charges begin to apply.

Times up!

General Credit - $100 Question: What is the grace period?

General Credit - $500 Answer: A credit report from one, two, or three of the credit bureaus, with or without credit scores, accessed by a creditor to check the status of your credit and/or credit score.

Times up!

General Credit - $500 Question: What is an Infile Credit Report?

General Credit - $1000 Answer: Requires creditors to provide complete and accurate information about credit costs and terms.

Times up!

General Credit - $1000 Question: What is the Truth-in-Lending Act?

General Credit - $2000 Answer: Prohibits abusive collection practices.

Times up!

General Credit - $2000 Question: What is the Fair Debt Collection Practices Act?

And now, a break from our regularly scheduled program…

Credit Scores - $100 Answer: 35% of an individuals FICO score is based on this category.

Times up!

Credit Scores - $100 Question: What is your Payment History?

Credit Scores - $500 Answer: 30% of your FICO score is based on this category.

Times up!

Credit Scores - $500 Question: What is your Amounts Owed?

Credit Scores - $1000 Answer: A term primarily used by accountants to describe a situation when a creditor eliminates the balance due on an account but does not remove the obligation of the debt.

Times up!

Credit Scores - $1000 Question: What is a charge-off?

Credit Scores - $2000 Answer: FICO.

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Credit Scores - $2000 Question: What is Fair Isaacs & Company?

Credit Knowledge - $100 Answer: The amount of time negative information on a credit report may be reported to a credit bureau

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Credit Card Knowledge - $100 Question: What is seven years

Credit Card Knowledge - $500 Answer: Pre-approved credit which can be used for the purchase of items now and the payment of them later.

Times up!

Credit Card Knowledge - $500 Question: What is a credit card?

Credit Card Knowledge - $1000 Answer: A fee charged for a cash withdrawal from a credit card account.

Times up!

Credit Card Knowledge - $1000 Question: What is a cash advance transaction fee?

Credit Card Knowledge - $2000 Answer: A fee charged when the cardholder does not make the minimum monthly payment by the due date.

Times up!

Credit Card Knowledge - $2000 Question: What is a late payment fee?

Final Trivia

Final Trivia Answer: The Latin word meaning I believe.

Times up!

Final Trivia Question: What is credo?