Credit Card Fees

Yearly charge for using a credit card is an (a)   fee.

Charged when you carry a balance past the due date.

• service charge

• interest

• returned payment

• over the limit

Which of the following is avoidable?

• interest

• foreign transaction fee

• cash advance fee

• late payment fee

Charged when you fail to make the minimum payment by the due date.

• balance transfer fee

• cash advance fee

• late payment fee

• over-the-limit fee

When would you incur a foreign transaction fee?

Can you withdraw cash using a credit card?

• yes - but you will be charged a cash advance fee

• no - only debit cards

What happens when you unsuccessfully try to pay your credit card balance? (maybe more than 1 correct answer)

• the remaining balance is charged interest

• you have to pay late payment fee

• you have to pay returned payment fee

• you have to pay cash advance fee

Fee when you transfer debt from one card to another.

(a)  

APR is an interest rate.

• true

• false

If you make a purchase that results in a balance (debt) greater than your credit limit, you'll be charged a (a)   fee.