Dangers Of A Credit Card

Where was the 1st credit card developed?

• Brooklyn, New York

• Los Angeles, California

• Chicago, Illinois

• Atlanta, Georgia

What is the purpose of a credit card?

• allow cardholders to use infinite money

• to protect your money

• allow cardholders to borrow money

• for decoration

What is debt?

• the name of a bank account

• result of spending more money than you have

• a bank in Atlanta, Georgia

• an award for being the best customer at your bank

How does a credit card work?

• cardholders use money from their bank account

• cardholders use money from other people's bank accounts

• Cardholders use borrowed money from the bank which they have to pay back later

• cardholders use money from their parents

What was the average American credit card debt in 2020?

• $5,315

• $7,874

• $8,932

• $1,234

Why is the average credit card debt so high?

• Inflation and interest rates get higher, making it harder to pay off your debt

• They raise prices of things yearly

• Credit cards get more expensive to buy

How did Covid-19 impact American debt?

• Getting Covid-19 restricted people from paying off their debt

• Jobs stopped paying during the outbreak.

• As people lost their jobs during the outbreak, people lost lots of money

Which options are ways to get out of credit card debt

• Learn your interest rates

• Double your minimum payment

• All of the above

• Split your balance in half and pay twice