Credit

Define the following types of credit and give at least two examples of each.

Non-Revolving Credit

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Revolving Credit

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Secured Credit

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Unsecured credit

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Short-Term Loan

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Answer the following questions.

What is credit?

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Why is credit important?

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What is a credit score?

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Discuss what is a good credit score and what is a bad credit score?

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What are some things that may affect your credit score?

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What are credit inquires and how do they affect your credit scores?

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