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Credit Cards Part 1

Authored by Rex Batie

Geography

6th Grade

Used 1+ times

Credit Cards Part 1
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is credit?

A permanent transaction

Free money

Borrowing money, goods, and services to be paid back later

A gift

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if you don't pay back credit on time?

You get a reward

You have to pay more than you originally borrowed

Nothing happens

The debt is forgiven

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the principal?

The interest charged

The total amount of money borrowed

A school administrator

The original amount borrowed

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is interest?

A type of credit card

The principal amount

A charge for borrowing money

A reward for paying back on time

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What can affect your ability to borrow money?

Your favorite color

Your shoe size

Your credit report and score

The type of phone you have

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a credit report?

A list of your favorite movies

A medical record

A summary of your financial status and history

A report card from school

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two most common types of credit?

Gift cards and coupons

Credit cards and loans

Savings and investments

Cash and checks

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