Which of the following payment types require you to pay upfront? Money order |
All of the above |
Which of the following are true if you pay only the minimum amount each month towards your credit card bill? A. You will be charged interest on your remaining balance |
A & C |
What is the amount of money you still owe to their credit card company called? |
Credit card balance |
If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for? Low APR |
Low APR |
Which payment type can help you stick to a budget? |
Debit cards |
Which of the following is NOT true of credit cards? Some offer rewards |
Best payment type to use when sticking to a budget |
Which of the following is NOT a common credit card fee? Late fee |
Minimum payment fee |
The amount of money you can charge to a credit card is called: |
Credit limit |
Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month? Late fee |
Annual Percentage Rate |
Which of the following is true of both paying with a check and paying with a debit card? Both are accepted by most people and businesses |
When used, both take money directly from your account |
Which of the following is true? Checks and Debit Cards both withdraw money directly from a bank account. |
Checks and Debit Cards both withdraw money directly from a bank account. |
Which of the following statements comparing debit cards to credit cards is TRUE? Debit cards allow you to draw funds directly from your checking account. |
Debit cards allow you to draw funds directly from your checking account. |
Which payment method typically charges the highest interest rates? Credit cards |
Payday loans |
Which of the follow will happen if you miss a monthly credit card payment? You will be charged a late fee |
You will be charged a late fee |
What is a credit limit? |
The maximum amount you can charge each billing cycle. |
The annual percentage rate on a credit card determines _______. |
the amount of interest you are charged on credit card purchases |
Making the minimum credit card payment: |
Means you are paying a small portion of your total credit card debt |
Which of the following can increase your credit card’s APR? Paying the minimum |
Missing a credit card payment |
What is a credit card balance? |
The amount of money you still owe to the credit card company |
Payment Types – Everfi
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