Credit Cards

The amount charged if your payment is received after the billing due date.

• late payment fee
• overdue fee
• withdrawal fee
• loser fee

The cost of borrowing money is referred to as 

• Interest 
• Annual Percentage Rate 
• Credit 
• Credit Line 

This is a fee that some, but not all, credit card issuers charge to use their credit card.

• APR
• annual fee
• monthly fee
• non-sufficient funds fee

The amount you must pay on a credit card, based on a percentage of the outstanding balance.

• minimum fee
• minimum payment
• monthly statement
• minimum monthly interest charge

Tags

CCSS.6.RP.A.3C

Benefits of credit cards include:

• safe and convenient, bonuses are offered
• allows you to build a positive credit report
• needed for reservations and online shopping
• all of these

Which one is considered a danger of using a credit card

• no cash needed
• leads to overspending
• convenient
• earns rewards

A plastic card that you use to access a line of pre-established credit is called:

• debit card
• credit card
• visa
• mastercard

To build a good credit history, you should

• open as much credit as possible quickly

• use the maximum credit allowed on all your credit cards

• pay on time and as much of your balance as possible

Over time, people who pay off their credit card balance in full every month will pay less in interest on their credit card.

• true
• false

Tags

CCSS.7.RP.A.3

What is credit?

• Free money

• Borrowed money