Level 2

Credit card use has the convenience of _________

allowing users to make purchases online in-store without needing cash.

One positive aspect of credit card use is that it helps build __________, making it easier to obtain loans and credit in the future.

Credit score.

A negative aspect of credit card use is __________, which tempts users to waste money and can lead to poor financial decisions if not careful.

overspending

Credit cards can incur __________, which are late payment fees that can add up quickly.

fees

One positive aspect of loan use is access to funds to __________ financial bridge gaps.

prevent

A negative aspect of loan use is that loans can eventually lead to __________, affecting finances and credit scores.

debt

The __________ protects consumers from inaccurate and unfair credit practices.

Truth in Lending Act.

The __________ eliminates abusive debt collection practices by debt collectors.

Fair Debt Collection Practices Act.

The __________ protects information collected by consumer reporting agencies.

Fair Credit Reporting Act.

One way to monitor your credit score is to __________ your credit report regularly to find errors (only once a year).

check.

Another way to monitor your credit score is to avoid __________ inquiries to prevent getting scammed.

sketchy.