Credit Card/Score/Report Review

A high FICO score means you have better credit than someone with a low FICO score. 

• True

•  False

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

• Late Fee

• Credit Limit

• Payment Amount

• Minimum Payment

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

• Do not pay anything

• Pay the minimum payment after its due date

• Pay the balance in full every month

• Pay the minimum balance every month

The rule of thumb for credit card users is not to carry a balance over 30% of your credit limit.

• True

• False

Grace Period - The time allowed to pay your balance without being charged a finance charge. Usually 23 to 35 days. 

• True

• False

Credit cards can help you build a credit history that will improve your chances of getting house or car loans in the future.

• False 
• True 
• A misleading statement 
• Myth

You are able to obtain your free annual credit report every ____ months.

• 18
• 6
• 12
• 24

FICO Scores are calculated from a lot of different credit data in your credit report and are scored from _____ to _____.

• 100 to 1600
• 300 to 850
• 1 to 36
• 1 to 2400

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

• None of the above

• Neither

• Chase Sapphire

• American Express

Having a high credit score will allow lenders to give you lower interest rates.

• True
• False