Credit Cards 1

Front

What happens if the credit card bill is not paid in full by the due date?

Back

The credit company can charge interest.

Front

Is it advisable to pay more than the minimum due on your credit card?

Back

Yes, it is best to pay more than the minimum due.

Front

What does APR stand for in credit terms?

Back

Annual Percentage Rate.

Front

If a credit card has an APR of 19% and purchases total $5200, what is the interest paid on the balance if no payments are made?

Back

$988.00.

Front

Which credit card offers a better rate: American Express 8.99% or Chase Sapphire 12.99%?

Back

American Express.

Front

What is the cost of credit expressed as a yearly interest rate called?

Back

Annual Percentage Rate (APR).

Front

What is the consequence of only paying the minimum payment on a credit card?

Back

You will incur more interest charges and take longer to pay off the balance.

Front

What is a penalty APR?

Back

A higher interest rate that is applied if you miss payments or violate the terms of your credit agreement.

Front

What is the difference between an introductory rate and a standard APR?

Back

An introductory rate is a temporary lower interest rate offered for a limited time, while the standard APR is the regular interest rate applied after the introductory period.

Front

Why is it important to understand your credit card's terms and conditions?

Back

To avoid unexpected fees and to manage your credit responsibly.