Credit Scores & Reports

Which term represents interest and all other fees added on credit purchases?

• annual fee

• annual percentage rate

• finance charges

What fee will you pay if you go over your credit limit?

• over-the limit-fee

• introductory rate

• grade period fee

The highest amount that can be charged to an account is called?

• credit limit

• APR limit

• minimum payment limit

What is the annual interest rate you'll be charged if you carry a balance?

• annual percentage rate

• introductory rate

• credit agency rate

Introductory rates are also known as what?

• teaser rates

• annual percentage rates

• annual fee rates

What is one example of revolving credit?

• A type of credit that can be used again and again as long as the minimum monthly payments are made. Most credit cards are revolving credit.

• A type of credit that can not be used again once the purchase is paid off. Most examples of revolving credit are loans.

What is one example of non-revolving credit?

• A type of credit that can be used again and again as long as the minimum monthly payments are made. Most credit cards are non-revolving credit.

• A type of credit that can not be used again once the purchase is paid off. Most examples of non-revolving credit are loans.

A car loan is an example of...

• revolving credit

• non revolving credit

A Walmart credit card is an example of...

• revolving credit

• non revolving credit

A mortgage (home loan) is an example of...

• revolving credit

• non revolving credit