Ms. B-Mays Credit

The cost of borrowing money is referred to as

• Interest

• Annual Percentage Rate

• Credit

• Credit Line

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

• late payment fee

• overdue fee

• withdrawal fee

• loser fee

One of the 5 C's of credit that shows a person's willingness to pay is

• capital

• collateral

• character

• capacity

The maximum amount you are allowed to carry as a balance on the card

• interest

• ARP

• credit limit

• all of these

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

It would be best to have a high credit score

• True
• False

A credit report is a report showing a borrower's history of how well they paid their bills.

• True
• False

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5