5 Things to Consider When Applying for a Credit Card

How many credit cards did the speaker recently get approved for?

• 5

• 10

• 3

• 1

What is the total credit available to the speaker after getting the new credit card?

• $40,000

• $30,000

• $20,000

• $50,000

What is the speaker's target credit utilization percentage?

• Under 10%

• Under 15%

• Under 5%

• Under 20%

What is the average interest rate in the U.S. as of January 2016?

• 12.05%

• 15.12%

• 10.25%

• 18.50%

What interest rate range might someone with fair or poor credit expect?

• 15% to 20%

• 10% to 15%

• 12% to 18%

• 20% to 25%

What happens if you make a late payment on your credit card?

• Your account is closed

• You're charged a late payment fee and your interest rate increases

• Your credit limit increases

• You receive a bonus

What is the traditional grace period for credit card payments?

• 15 days

• 20 days

• 30 days

• 25 days

What billing cycle method should you avoid when choosing a credit card?

• Two cycle billing

• Single cycle billing

• Monthly billing

• Annual billing

Why should you avoid credit cards that charge an annual fee according to the speaker?

• There are many available that don't charge a fee

• They have shorter grace periods

• They offer fewer benefits

• They have higher interest rates

What does the speaker suggest doing if you're having trouble choosing a credit card?

• Check recommendations on Credit Karma

• Give up on getting a credit card

• Consult a financial advisor

• Apply for all of them