FIN Final

Front

What is one advantage of having a credit card?

Back

It allows you to make purchases without carrying lots of cash.

Front

What happens when you don't have enough money to pay for the things you charged?

Back

You end up owing more than the original amount of money you charged.

Front

Why would your credit provider give you a credit limit?

Back

To prevent you from spending more money than you can pay back.

Front

When you make a credit card purchase at a store, who do you agree to pay?

Back

Your credit provider.

Front

How do credit card companies make money?

Back

By charging late fees and interest to their customers.

Front

What is the best way to avoid credit card debt? Choose the best answer: Don't spend more money than you have.

Back

Don't spend more money than you have.

Front

What does "entice" mean?

Back

lure

Front

How is charging a purchase like getting a loan?

Back

You borrow money from your credit provider.

Front

What is the golden rule to save money?

Back

20-30-50 rule

Front

What conclusion can you draw about using credit cards?

Back

They should be used with extreme caution.