Unit 3 and 4 Review

Which best represents Revolving Credit

• A home loan (Mortgage)

• A Credit Card

• A Student Loan

• A Car Loan

The document that banks must send you to inform you of fees and interests rates on a credit card is called

• The Schumer Box

• The Schumacher Box

• The Credit Agreement

• The Rewards Page

Which best defines interest in terms of credit

• Return on your Investments

• Costs of using someone else's money

• Money gained from Rewards programs

• The things you like

Which item does not belong on the Schumer Box

• APR for purchases

• Annual Fees

• Cash Advance APR

• Rewards Programs

Which item on the Schumer box is best defined as the rate you pay for moving one card balance to another card

• Balance Transfer APR

• Purchase APR

• Annual Fee

• Cash Advance APR

Which item on the Schumer box tells you your regular interest rate on Purchases made throughout the month

• Grace Period

• Annual Fee

• Purchasing APR

• Cash Advance APR

Which term on the Schumer box is best described as the amount of time you have to pay the bill before interest accrues.

• Purchasing APR

• Foreign Transaction fee

• Annual Fee

• Grace Period

What is the document that summarizes your work skills and experiences

This payment method uses paper and coin as currency.

This payment method is linked to your checking account and uses your own money