Quiz: How Consumer Savvy Are You?

1

True or False: You can go to jail for upaid debt.
- True
- False
2

True of False: A credit card company may not increase interest rates without notice or option to cancel.
- True
- False
3

Can you open a credit card account without restrictions when you are under 21?
- Yes, there are no special restrictions for having a credit card before 21.
- No, the credit card company must show that you are able to make payments or have a cosignor.
4

What is a foreclosure scam?
- Scam artists who claim to help reduce mortgage payments to homeowners who are in danger of losing their homes.
- Scam artists who sell other people's houses at auctions, claiming they are foreclosure sales.

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