Managing credit the right way is a big responsibility. Part of how you use credit involves knowing your rights and protections while using it to purchase items and pay off debt.
Watch the video to learn more about Using Credit Right and Your Credit Rights, then test your knowledge at the end of the lesson.
Applying for credit results in what type of inquiry on your credit report?
A. Soft inquiry
B. Hard inquiry
C. APR inquiry
D. Delayed inquiry
What is the maximum amount of available credit you should utilize at any given time?
A. 30%
B. 45%
C. 50%
D. 60%
The Fair Credit Billing Act limits your liability for a lost or stolen credit card to $50 if you report it within 30 days.
A. True
B. False