
Using Credit - What To Do
Passage
•
Education
•
8th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one way to build or improve your credit history?
Get a credit card and use it wisely
Save money in a bank account
Pay your bills on time
Invest in the stock market
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the best place to start if you do not have credit?
Apply for a personal loan
Avoid using any form of credit
Use a debit card for all your purchases
Get a secured credit card
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you look for when comparing credit cards?
No credit limit and high fees
Low annual fee and low APR
Short grace period and high interest rates
High annual fee and high APR
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a grace period on a credit card?
To charge you interest immediately
To report your credit history to the credit reporting companies
To give you extra time to pay your bill
To increase your credit limit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you cannot get a regular credit card, what type of card should you try to get?
Secured credit card
Store credit card
Business credit card
Prepaid card
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do to improve your credit history?
Make late payments on your credit card
Pay your credit card bill in full every month
Pay only the minimum amount due on your credit card
Use your credit card frequently and carry a balance
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the consequence of paying your credit card bill late?
No impact on your credit history
No consequences, it is allowed
Lower interest rates on your credit card
Higher interest rates on your credit card
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