
Introduction to credit
Authored by Matthew Ryan
Life Skills
8th Grade
Used 47+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does it mean to use credit?
Taking money without permission
Borrowing money to pay for something, and later paying that loan back, with interest
Borrowing money without paying that loan back
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Credit cards are a form of which of the following?
Loan
Gift
Insurance
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If you do not pay your credit card in full you may be charged which of the following?
A one time fee
Interest
An overdraft fee
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A lower interest rate means you pay ________ money. A higher interest rate means you pay __________ money.
less, more
more, less
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Debit and credit cards work exactly the same way.
True
False
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What happens when you use your debit card?
You pull money directly from your savings account
You pull money directly from your checking account
You are borrowing money from your bank to make a purchase
You are borrowing an item/service now with the promise to pay later
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A key difference between a debit and credit card is....
You can build a credit score when using a credit card responsibly, not with a debit card
You can build a credit score when using a debit card responsibly, not with a credit card.
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