Section 1 - Instruction

You've learned about credit scores, good versus bad debt, and smart credit card habits. Now let's practice putting it all together in real situations.

Engagement Message

Ready to tackle some credit decision scenarios?

Section 2 - Practice

Type

Multiple Choice

Practice Question

Maria has a $3,000 credit limit and currently owes $900. She wants to keep her utilization under 30%. How much more can she spend before hitting that limit?

A. $0 - she's already over 30% B. $200 C. $300
D. $900

Suggested Answers

  • A - Correct
  • B
  • C
  • D
Section 3 - Practice

Type

Swipe Left or Right

Practice Question

Swipe each purchase based on whether it's more likely to be good debt or bad debt:

Labels

  • Left Label: Good Debt
  • Right Label: Bad Debt

Left Label Items

  • Taking a loan to start a food truck business
  • Getting a mortgage for your first home
  • Borrowing money to get a nursing degree

Right Label Items

  • Using credit cards to fund a luxury vacation to Europe
  • Getting a payday loan to buy the latest smartphone
  • Financing expensive jewelry with store credit
Section 4 - Practice

Type

Sort Into Boxes

Practice Question

Sort these credit card strategies into smart habits vs. costly mistakes:

Labels

  • First Box Label: Smart Strategies
  • Second Box Label: Costly Mistakes

First Box Items

  • Pay full balance monthly
  • Keep utilization low
  • Pay before due date

Second Box Items

  • Only pay minimums
  • Max out cards
  • Cash advances
Section 5 - Practice

Type

Fill In The Blanks

Markdown With Blanks

Let's review the key credit card rules. Fill in the blanks:

To build good credit with cards, always pay your [[blank:full]] balance each month, keep utilization under [[blank:30]]%, and never miss your [[blank:due]] date.

Suggested Answers

  • full
  • 30
  • due
  • complete
  • payment
Section 6 - Practice

Type

Multiple Choice

Practice Question

Jake has three debts: a mortgage at 4%, a credit card at 22%, and a student loan at 6%. If he has extra money to pay down debt and is focusing purely on interest costs (not considering other factors like tax benefits or loan forgiveness), which should he prioritize?

A. The mortgage because it's the biggest balance B. The student loan because it's in the middle
C. The credit card because it has the highest rate D. Pay equal amounts to all three

Suggested Answers

  • A
  • B
  • C - Correct
  • D
Previous
Next
Sign up
Join the 1M+ learners on CodeSignal
Be a part of our community of 1M+ users who develop and demonstrate their skills on CodeSignal