CREDIT AND DEBT MANAGEMENT

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

• Minimum Payment
• Late Fee
• Credit Limit
• money time

Tags

CCSS.5.NBT.A.2

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

• True
• False

Tags

CCSS.7.RP.A.3

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

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

Only making the minimum payment on a credit card every month will:

• lower the amount total paid for the purchase
• take longer to pay off which will result in paying more interest, more money!
• pay off the credit card faster

Tags

CCSS.7.RP.A.3

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

• True
• False

Tags

CCSS.7.RP.A.3

You have a choice between two credit cards: American Express 8.99% or Chase Sapphire 12.99%. Which card offers the better rate?

• Chase Sapphire
• American Express

Tags

CCSS.6.RP.A.3A

Paying credit card payments on time is

• positive
• negative
• silly
• a waste of energy

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

A credit card is

• Pre-approved credit which can be used for the purchase of goods and services now and payment of them later
• Credit which must be repaid in a series of equal payments
• A plastic card that is electronically connected to the cardholder's bank account
• None of the above

Tags

CCSS.RI.8.3

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Credit is a postponement of payment facility provided by the supplier to the consumer.

• TRUE

• FALSE

Debt means the amount of money that can be borrowed.

• TRUE

• FALSE

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C