credit card

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

• Late Fee
• Credit Limit
• Payment amount
• Minimum Payment

Tags

CCSS.7.RP.A.3

How can a cardholder avoid paying interest on a credit card?

• Do not pay anything
• Pay the minimum payment after its due date
• Pay the minimum balance every month
•  Pay the balance in full every month

The credit company can charge interest if the credit card bill is not paid in full by the due date

• True
• False

Tags

CCSS.5.NF.B.5B

It is best to pay more than the minimum due on your credit card.

• True
• False

Tags

CCSS.7.NS.A.1B

What is an annual fee? 

• The act of transferring money 
• A fee charged by a card issuer for being a card holder. 
• The days between the last statement and the current statement. 
• A fee charged to a cardholder's account once a payment is late. 

What is a finance charge?

• The amount of interest charged to an account for the billing cycle. 
• A fixed annual percentage rate of the finance charge.
• A charge from the bank for getting a credit card. 
• None of the above. 

Tags

CCSS.7.RP.A.3

What is a grace period?

• The time allowed to pay your balance with a low interest rate 
• The time frame to spend as much money as you can.
• The time allowed to pay your balance without being charged. 

Annual Percentage Rate (APR) is the yearly percentage rate of the finance charge. 

• True
• False 

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

What is a credit score?

• What lenders use to see if you are able to pay back credit
• 3 numbers
• What your score on a test is that was worth credit

What is your job as a borrower?

• To pay back your loans promptly
• To borrow as much as humanly possible
• Spend your loans and not pay them back