The Truth About Credit Cards

The Truth About Credit Cards

9th - 12th Grade

6 Qs

quiz-placeholder

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BEING AN AMERICAN CITIZEN I

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The Truth About Credit Cards

The Truth About Credit Cards

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

Nicole Trego

Used 1+ times

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6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Making purchases with a credit card means that you're borrowing money with interest, and ______ pay much higher interest rates.

Young people

Old people

Rich people

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There are certain things, like renting a car or booking a hotel room, that you cannot do without having a credit card.

true

false

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit card companies make the most profit from _______________.

Incentive programs with banks

Government tax breaks

Charging interest to customers who only pay part of their monthly debt

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit cards that offer flashy rewards like airline miles often . . .

Charge a high annual fee

Don't include protection against fraud

Can't be used for personal expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you buy with credit, you typically spend more than you would with cash or a debit card.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit card companies charge stores a 2–3% fee for every purchase made with credit cards. This is called a(n) . . .

Merchant fee

Cash advance fee

Annual fee