Choose wisely. There is only one correct answer to each question.
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1.
Why is it advantageous to apply for your first credit card at your bank or credit union?
It already has a sense of your financial health. Because of this, it may be willing to offer you a credit card.
2.
A personal loan from a bank or credit union works the same way as a credit card.
False. Personal loans do not work the same way as credit cards. They have set limits and a schedule of repayment.
3.
Why might potential lenders be interested in knowing how many times you have changed your address?
If you move frequently, that may indicate instability to them. Even if you are not financially unstable, lenders may still see it that way.
4.
The amount you owe on your credit cards affects your credit history, even if you faithfully pay on your balance every month.
True. The amount you owe accounts for 30% of your credit history.
5.
Which is typically easier to get: a secured credit card or an unsecured credit card?
Secured credit card. It is easier to get because it is backed by a source of money that can be taken if you default on the card. For this reason, those who are trying to get credit for the first time consider these cards.