Credit Cards

The two types of credit cards are bank cards and travel and entertainment cards.

• True

• False

Credit score is the accumulated amount of money borrowed from the bank.

• True

• False

An acquirer is the one who collects credit-authentication requests from merchants.

• True

• False

Store cards were invented in Iraq in the 1920's.

• True

• False

The formula for financial charge is
Financial Charge = Balance * Periodic Rate

• True 

• False

What year was the first official credit card system implemented?

• 1959

• 1940

• 1949

• 1950

How long is a credit card's "grace period"?

• 15 minutes

• 2 months

• 24 hours

• 25-30 days

Coins and medals evolved into rectangular metal cards called...

• Plate cards

• Charga-Plates

• Credit cards

• ATM cards

How many digits does a credit card number have?

• 16

• 17

• 15

• 12

What is the interest that you pay depending on the money that you owe?

• Minimum Payment

• Annual Percentage Rate

• Finance Charge

• Grace Period