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8: Review Your Knowledge
Summarize the importance of credit.
Explain how credit cards serve as a medium of exchange.
Identify the similarities and differences between closed-end and open-end credit.
Describe the meaning of creditworthiness.
Explain the role of credit bureaus.
Describe the cost of credit.
Discuss the risks a person takes with using a payday loan.
Explain the risks a person takes with using a title loan.
List and describe three different types of credit cards.
What are important factors to consider when shopping for a credit card?
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