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.HSA.CED.A.1

CCSS.HSA.CED.A.2

CCSS.HSA.REI.B.3

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

• True
• False

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.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSN.Q.A.1

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

• True
• False

Tags

CCSS.HSS.MD.B.5

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

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CCSS.7.RP.A.2

CCSS.7.RP.A.3

Paying credit card payments on time is

• positive
• negative
• silly
• a waste of energy

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.3

CCSS.HSS.MD.B.5

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

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