Credit Card IQ

Credit cards are accepted as cash by stores.

• True

• False

Most credit cards have a limit.

• True

• False

If I pay my credit card balance in full by the due date I will not owe any interest.

• True

• False

There’s no penalty if I pay my credit card balance after the due date.

• True

• False

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

If I pay the minimum monthly credit card payment then I won’t owe any interest.

• True

• False

The least amount that must be paid on a credit card each month is

• Late Fee

• Credit Limit

• Minimum Payment

Only making the minimum payment on a credit card every month will:

• pay off the credit card faster

• make you independently wealthy

• take longer to pay off and cost you more money

Someone who legally agrees to take responsibility for a person's debt if they cannot repay it

• parent

• cosigner

• friend

• no such thing

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 dangers of credit card

• no cash needed
• lead to over spending