Chapter 4 Lesson 4 The Truth About Credit Cards

What is a common reason people end up with credit card debt?

• They always pay their bills on time.

• They use credit cards for emergencies only.

• They make promises to themselves but life happens.

• They never use credit cards.

What is a common feeling people have about their credit card debt?

• Excitement

• Indifference

• Worry

• Joy

What is one of the initial promises people make when they get their first credit card?

• To use it for every purchase.

• To only use it for emergencies.

• To never pay the bill.

• To lend it to friends.

According to the text, what can debt do to your dreams?

• Speed them up

• Make them more colorful

• Slow them down

• Have no effect

What is a common misconception people have about credit card usage?

• It will always be manageable.

• It is only for emergencies.

• It is free money.

• It is a way to save money.

What is a potential consequence of using credit cards without careful thought?

• Increased savings

• Overwhelming debt

• Improved credit score

• More free time

What is the advice given about handling debt?

• Ignore it and it will go away.

• Pay it off quickly to enjoy the present and plan for the future.

• Accumulate more debt for better credit.

• Use debt to fund dreams.

What is a common reason people fail to stick to their initial credit card promises?

• They forget their promises.

• They receive too many perks.

• Unexpected expenses occur.

• They lose their credit card.

What is the suggested mindset towards past financial decisions?

• Dwell on them constantly.

• Ignore them completely.

• Learn from them and focus on the present and future.

• Repeat them for consistency.

What is a common initial intention people have when signing up for a credit card?

• To use it for every purchase.

• To never use it at all.

• To only use it for the sign-up perks.

• To lend it to others.