2/9 Credit Cards

What can good credit score help get?

• Loan

• Rent lowered

• Free food

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.5

There’s no penalty if I pay my credit card balance after the due date.

• True

• False

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.3

What is one advantage of having a credit card?

• It prevents you from spending more than you earn.
• It allows you to make purchases without carrying lots of cash.
• It encourages you to budget your money wisely.
• It helps you pay off debts that you may have.

What happens when you don't have enough money to pay for the things you charged?

• You end up owing less than the original amount of money you charged.
• You end up owing more than the original amount of money you charged.
• You end up owing the same amount of money you charged, it just takes a while to pay off.

Tags

CCSS.7.NS.A.2A

CCSS.7.NS.A.2B

Why would your credit provider give you a credit limit?

• To remind you to pay your bill on time.
• To prevent you from enjoying the things you buy.
• To prevent you from spending more money than you can pay back.
• To prevent you from shopping in certain places.

When you make a credit card purchase at a store, who do you agree to pay?

• The store.
• The bank where the store keeps its money.
• Your credit provider.

How is charging a purchase like getting a loan?

• You borrow money from your credit provider.
• You borrow money from the store in order to pay your credit provider.
• You borrow money from an ATM in order to pay your credit provider.

The maximum amount you may borrow on a credit card is known as:

• creditworthiness
• credit report
• credit limit
• variable rate of credit

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.8.5

CCSS.RI.6.5

CCSS.RI.7.5

How can you avoid paying interest fees on your credit card?

• Only use it for groceries
• pay off the full balance, on time, each month
• you cannot avoid interest fees
• only use Discover

It is wise to compare credit card offers before choosing one

• True
• False

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.9-10.2

CCSS.RL.7.2

CCSS.RL.8.1