Credit Card Statement Quiz

What is a credit card statement?

• A credit card statement is a report of all the rewards earned using a credit card.

• A credit card statement is a document that shows the available credit limit on a credit card.

• A credit card statement is a monthly summary of all the transactions made using a credit card.

• A credit card statement is a record of all the cash withdrawals made using a credit card.

Why is it important to understand credit card statements?

• To improve credit score

• To track spending, detect errors, manage budget, and avoid fees

• To increase credit limit

• To earn rewards and cashback

What are interest charges on a credit card statement?

• Charges for withdrawing cash from an ATM using the credit card.

• Fees charged for late payment on the credit card.

• Fees charged by the credit card issuer for borrowing money on the card.

• Charges for using the credit card at certain merchants.

How are interest charges calculated on a credit card statement?

• Interest charges on a credit card statement are calculated based on the average daily balance and the annual percentage rate (APR) of the card.

• Interest charges on a credit card statement are calculated based on the number of transactions made and the annual percentage rate (APR) of the card.

• Interest charges on a credit card statement are calculated based on the payment history and the annual percentage rate (APR) of the card.

• Interest charges on a credit card statement are calculated based on the total credit limit and the annual percentage rate (APR) of the card.

What is the minimum payment on a credit card statement?

• The minimum payment on a credit card statement is the total balance owed on the credit card.

• The minimum payment on a credit card statement is the maximum amount of money that a credit card holder must pay each month.

• The minimum payment on a credit card statement is the smallest amount of money that a credit card holder must pay each month to keep their account in good standing.

• The minimum payment on a credit card statement is not required and can be skipped.

Why is it important to pay more than the minimum payment on a credit card statement?

What information can be found on a credit card statement?

• Cardholder's name, account number, transaction details, payment due date, minimum payment amount, interest charges, fees or penalties

• Cardholder's social security number, mother's maiden name, security code

• Cardholder's address, card expiration date, credit limit

• Cardholder's phone number, email address, date of birth

How can you identify fraudulent charges on a credit card statement?

• Cancel the credit card immediately

• Wait for the issuer to contact you about fraudulent charges

• Ignore the charges, they might be legitimate

• Review statement, look for unfamiliar charges, contact issuer

What are some common fees that can appear on a credit card statement?

• credit limit fees

• interest fees

• annual fees, late payment fees, balance transfer fees, cash advance fees, foreign transaction fees, over-limit fees

• monthly fees

How can you dispute a charge on a credit card statement?

• Contact your credit card issuer

• Contact the merchant directly

• Ignore the charge and hope it goes away

• File a police report