
Getting a Credit Card Lesson 8
Flashcard
•
Business
•
10th Grade
•
Hard
Wayground Content
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6 questions
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1.
FLASHCARD QUESTION
Front
Why is it a poor financial decision to pay only the minimum payment on your credit card?
Back
Because it increases the total interest you pay over time
2.
FLASHCARD QUESTION
Front
Which of the following best explains the difference between a Credit Card and a Debit Card?
A Credit Card allows you to borrow money up to a certain limit, while a Debit Card lets you spend money from your own bank account.
Back
A Credit Card uses borrowed money; a Debit Card uses your own money.
3.
FLASHCARD QUESTION
Front
What is Revolving Credit?
Back
A type of loan that allows repeated borrowing up to a set limit
4.
FLASHCARD QUESTION
Front
A credit card statement includes which of the following types of information?
Back
List of transactions, payment due date, and total balance
5.
FLASHCARD QUESTION
Front
What is a Credit Card Grace Period?
Back
A period during which you can pay your credit card bill without incurring interest charges.
6.
FLASHCARD QUESTION
Front
A Credit Limit is:
Back
The maximum amount that can be borrowed on a credit account.
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