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Credit Cards

Authored by Anthony Miller

History

12th Grade

Used 15+ times

Credit Cards
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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit card?

a form of unsecured credit (basically a loan)

a loan you you take out when you sign up for a bank

a card that has money from your checks in it

a type of account that allows you to buy whatever you want

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an advantage of credit cards?

There is a transaction fee on them

They are accepted mostly everywhere

You have to pay a minimum fee every month

It is easier to over-spend with a credit card

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: The Grace Period for a Cash Advance is shorter than 30 days?

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of calculation for interest is recognized as the best?

Previous Balance

Ending Balance

Average Daily Balance

Adjusted Balance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the minimum payment mean?

It is the full amount you need to pay on your credit card statement

It is the amount of interest you need to pay on a balance

It is the minimum amount you need to pay on a credit card statement to stay in good standing

It is the fee you pay if you miss a payment on your credit card statment

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