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Credit Limit |
The amount of money you can charge to a credit card is called |
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… |
Which of the following is true of both paying with a check and paying with a debit card? |
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Debit Card |
Which payment type is best if you are trying to stick to a budget? |
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Credit Card Balance |
What is the amount of money you still owe to their credit card company called? |
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Means you are paying a small portion of your total credit card debt |
Making a minimum payment…… |
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paper, plastic, and electronic |
What are three major options for payments? |
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B |
Which of the following payment types require you to pay upfront? A) Money orders & credit cards B) Money orders & pre-paid cards C) Merchant cards & credit cards D) Merchant cards & pre-paid cards |
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Statements II & III |
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. |
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Cash |
is accepted by most businesses and individuals. |
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Checks |
approves a certain amount of money to come out of your account. |
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Bouncing a Check |
If you write a check and you don’t have the amount to cover it, it’s called…. |
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Cashier’s check |
comes directly out of your bank account, usually for a fee. |
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Money Orders |
can be purchased outside of your bank. |
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Money Order |
are paid upfront, so they cannot be bounced. |
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1credit |
1 Credit or Debit: your transactions can improve or damage your credit history. |
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2debit |
2 Credit or Debit: your transactions don’t affect your credit history. |
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3credit |
3 Credit or Debit: offers you protection againts fraud. |
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4debit |
4 Credit or Debit: typically offers you less protection |
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5credit |
5 Credit or Debit: you can buy things that you don’t have the money for or might not be able to afford. |
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6debit |
6 Credit or Debit: you can only buy things based on the money you have in your account. |
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7credit |
7 Credit or Debit: sign your name to finalise a purchase. |
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8debit |
8 Credit or Debit: enter a PIN to finalize a purchase. |
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9credit |
9 Credit or Debit: which payment method offers you most fraud protection when you’re in vacation? |
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10debit |
10 Credit or Debit: which payment method would you want when is you want purchases to come straight from your checking account so that you always know how much you have in the bank? |
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prepaid crad |
payment methods that protects you from the possible cost of spending more money than you have available. |
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reload fees |
All of the following are fees typically charged by credit card companies EXCEPT: |
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Annual Percentage Rate |
is the interest rate charged by your credit card on any balance not paid off before the next billing cycle. |
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annual membership fee |
some cards charge you special fees such as …. |
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airline miles discounts; cash back |
some cards offer reward like ? or ? to get people to sign up or use a particular credit card. |
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credit limit |
the amount of money you can charge to your credit card. |
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