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Which payment type is best if you are trying to stick to a budget? |
Debit Card |
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Which of the following statements comparing debit cards to credit cards is TRUE? |
A |
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The amount of money you can charge to a credit card is called: |
Credit Limit |
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Which of the following are true if you pay only the minimun amount each month towards your credit card bill? |
Your Annual Percentage Rate will increase. |
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Which of the following is true of both paying with a check and paying with a debit card? |
When used, both take money directly out of a bank account |
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1) Which of the following payment types require you to pay upfront? |
Money orders & pre-paid cards |
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2) Which of the following statements are TRUE about credit cards? I. When you use a credit card, the money comes directly out of your account. II. Credit cards typically offer more fraud protection than debit cards. III. Transactions made with a credit card can impact your credit score. |
Statements II & III |
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3) All of the following are fees typically charged by credit card companies EXCEPT: |
Reload fee |
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4) Which of the following statements about minimum payments is INCORRECT? |
If you send in the minimum payment, you will be charged a late fee. |
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1 Which of the following payment types require you to pay upfront? |
All of the above |
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2 Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month? |
APR |
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What is the amount of money you still owe to their credit card company called? |
Credit Card Balance |
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Which of the following can increase your credit card’s APR? |
Paying the minimum |
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Which of the following is NOT true of credit cards? |
They are the best payment type to use when trying to stick to a budget. |
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If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for? |
… |
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