Using Credit Cards

You're actually borrowing money each time you make a credit card charge.

• True

• False

It's very difficult to run up a large credit card debt.

• True

• False

A credit card can come in handy if you are faced with an emergency.

• True

• False

If a credit card shows an UNPAID BALANCE, it means you have already paid your debt.

• True

• False

Credit Cards are useful when you're shopping by phone or on the Internet.

• True

• False

If your credit card company requires an annual service fee, you have to pay a certain amount ________.

• every day

• every month

• every year

• every now and then

A due date is the _______ day you can pay your bill without being charged a fine.

• earliest

• latest

• the only time

A minimum payment is the ______ you must pay each month on your unpaid credit card balance.

• most

• least

• average

The ________ is the amount of time you have to pay your bill without interest.

• grace period

• credit slip

• balance

• APR

If you pay your full credit card bill by the due date you will ________.

• need to pay interest on the next bill

• not be charged any interest

• ruin your credit rating

• lose weight