Credit Cards

Credit Cards

Assessment

Flashcard

History

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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8 questions

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1.

FLASHCARD QUESTION

Front

How is charging a purchase like getting a loan?

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Back

You borrow money from your credit provider.

2.

FLASHCARD QUESTION

Front

The cost of credit expressed as a yearly interest rate is known as:

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Back

Annual Percentage Rate (APR)

3.

FLASHCARD QUESTION

Front

The maximum amount you may borrow on a credit card is known as:

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Back

credit limit

4.

FLASHCARD QUESTION

Front

How can you avoid paying interest fees on your credit card?

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Back

pay off the full balance, on time, each month

5.

FLASHCARD QUESTION

Front

Is it wise to compare credit card offers before choosing one?

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Back

True

6.

FLASHCARD QUESTION

Front

Having a high credit score will allow lenders to give you lower interest rates.

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Back

True

7.

FLASHCARD QUESTION

Front

The least amount that must be paid on a credit card each month is

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Back

Minimum Payment

8.

FLASHCARD QUESTION

Front

You have a choice between two credit cards: American Express 8.99% or Chase Sapphire 12.99%. Which card offers the better rate?

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Back

American Express