Credit Cards. School Loans. Auto Loans

Having a grace period means _________________________.

• you need to pay right now

• having time to pay back the money you owe

• how much your late fee is

• how much the credit limit is

Your creditworthiness is based on ____________________, _____________________, _________________________.

• how much in loans you already have

• how much income you have

• what your payment history is like

• All answers are correct

An annual fee is ___________________________.

• how much you pay in interest

• the price you have to pay for a card every year

• the penalty you pay for being late

• always $50

The introductory rate is _____________________________.

• the low interest rate you will pay for a short time

• how much you pay every year just for having the card

• how much your credit limit is

• the time you have before you have to pay back the money

The benefits of having a credit card might be ___________________, _______________________, and ______________________.

• cash back

• discounts at stores

• having an option for money if you don't have it saved

• All of the answers are correct

A late fee is _______________________.

• how much you pay every year for having the card

• the penalty you pay for making the payment after the deadline

• your credit limit

• always $50

The best way to spend on a credit card (if you can) is _________________________________________.

• to spend very little on it and always pay off in full

• max out your credit limit

• make the minimum payments

• be late on the payments

The worst way to work with a credit card is to ___________________________.

• use less than 50% of the credit limit

• pay more than the minimum payment (if you can)

• pay off the balance in full (if you can)

• max out the credit limit and pay only the minimum payment

True or false: scholarships are automatically renewed each year.

• True
• False

True of false: federal student aid can be used for tuition, books, supplies, and room and board.

• True
• False