Credit Vocabulary List Quiz 1

To find your interest charge,

you would multiply the __________________ by your credit card balance.

• interest rate
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

Last month Lydia only paid the ____________________ on her credit card,

the smallest amount allowed.

• minimum payment amount
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

 If you are not careful with the use of credit,

you can damage your __________________.

• credit rating (history)
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

Sam paid his credit card bill five days after it was due

and was charged a _______________.

• late fee
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

Maria uses her credit card to buy things

only when she already has the money in the bank,

or as a___________________.

• purchase enabler
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

Mario is a _______________________,

because he always pays his entire credit card bill each month.

• balance payer
• Annual fee
• ATM cash advance
• balance transfer
• credit

 If your credit card company informs you that you can charge a greater amount on your card,

it means they have increased your ____________________.

• credit line
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

Nate just received a ___________________________ in the mail,

inviting him to apply for a credit card.

• credit card solicitations
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

 If you borrow money, the extra money you have to pay to the lender is called __________________________.

• interest
• Annual fee
• ATM cash advance
• balance payer
• balance transfer

Rick paid off one credit card by using another credit card.

This is called a __________________________.

• balance transfer
• Annual fee
• ATM cash advance
• balance payer
• credit