Credit Cards

Front

What is the least amount that must be paid on a credit card each month?

Back

Minimum Payment

Front

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

Back

American Express

Front

Is there a penalty if I pay my credit card balance after the due date?

Back

False

Front

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

Back

Pay off the full balance, on time, each month.

Front

What does APR stand for in credit terms?

Back

Annual Percentage Rate (APR)

Front

What is a credit limit?

Back

The maximum amount of credit that a lender will extend to a borrower.

Front

What is a late fee?

Back

A charge imposed for not making a payment by the due date.

Front

What is the difference between a secured and unsecured credit card?

Back

A secured credit card requires a cash deposit as collateral, while an unsecured credit card does not.

Front

What is a penalty APR?

Back

A higher interest rate that may be applied if you miss payments or violate other terms of your credit agreement.

Front

What is the purpose of a credit card statement?

Back

To provide a summary of your account activity, including purchases, payments, and the total balance owed.