Credit Card Assessment (Part 1)

Front

The price of money

Back

Interest

Front

When goods, services, or money is received in exchange for a promise to pay a definite sum of money at a future date.

Back

Credit

Front

The maximum dollar amount that can be charged on a credit card.

Back

Credit Limit

Front

The interest rate charged on a credit card account each month.

Back

Annual Percentage Rate

Front

Minimum amount of a credit card bill that must be paid every month.

Back

Minimum Payment

Front

A higher interest rate that is charged on new transactions.

Back

Penalty APR

Front

The date the minimum payment is due.

Back

Due Date

Front

Charged if the amount of money charged goes over the card’s credit limit.

Back

Over-the-limit fee

Front

Identify the following statement as a positive or negative use of a credit card: Paying the amount charged to a credit card in full every month

Back

Positive use of a credit card

Front

Identify the following statement as a positive or negative use of a credit card: Paying credit card payments on time

Back

Positive use of a credit card