NDSU Extension Service - Ramsey County

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Wise Credit Management Quiz

Wise Credit Management Quiz

Want to use credit wisely and pay less to borrow money? Start by taking this quiz provided by the eXtension web site to assess your current credit-related practices.  Answer “yes” or “no” to each of the following questions. There are no right or wrong answers –simply a little insight into the way we manage money.

1.      I have checked my credit score within the last two years.

2.      My current ration of monthly consumer debt ( car loan, student loan, credit card) payments to monthly net income is less than 20%.

3.      I have never had any of the following: collection or charged-off accounts, judgments, lines, repossession, wage garnishment, foreclosure or bankruptcy.

4.      The last time I obtained a loan or credit, I compared at least three different lenders before signing on the dotted line.

5.      I am not “upside-down” on any of my loans – that is owe more than the value of the item that the loan was taken out to finance.

6.      I have a listing of my credit card account numbers and contact information in case of loss or theft.

7.      I pay credit card bills on time to avoid late fees.

8.      .I keep a running list of my outstanding credit card expenses as I use my credit cards so I am aware of the total amount due.

9.      I avoid taking credit card cash advances.

10.  I never co-sign a loan for another person unless I am positive of being reimbursed or can afford the potential loss.

 

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