Credit Cards Quiz

What card offers fraud protection?

• Debit Card

• Credit Card

What is a debit card directly linked to?

• A credit account

• A savings account

• A checking account

• A loan account

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DOK Level 1: Recall

Which of the following is a common feature of most credit cards?

• Annual fees

• Transaction limits

• Overdraft

• Direct deposit

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DOK Level 1: Recall

What does APR stand for in the context of credit cards?

• Annual Percentage Rate

• Automated Payment Requirement

• Annual Payment Rate

• Automated Percentage Rate

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DOK Level 1: Recall

What is typically required to complete a transaction with a debit card at a store?

• A signature or a PIN

• A credit check

• An appointment with bank manager

• A deposit slip

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DOK Level 1: Recall

Which type of card typically allows you to build a credit history?

• Debit card

• Credit card

• Prepaid card

• Gift card

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DOK Level 1: Recall

What happens if you only make the minimum payment on a credit card each month?

• The balance decreases significantly

• The balance does not change

• The balance decreases slightly, but interest may still accumulate

• The account is closed

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DOK Level 1: Recall

What is a common consequence of not paying your credit card bill on time?

• Increase in credit limit

• Decrease in interest rate

• Late fees and potential damage to credit score

• Automatic closure of the account

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DOK Level 1: Recall

Which of the following is NOT a typical feature of debit cards?

• Spending directly from a linked bank account

• Building credit history

• Withdrawal of cash at ATMs

• Use in online and in-store purchases

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DOK Level 1: Recall

What is the primary function of a credit card?

• To withdraw cash

• To save money

• To borrow money on credit

• To transfer money between accounts

Tags

DOK Level 1: Recall