Let's Get Ready to Review! August-Oct.

The cost of borrowing money is referred to as 

• Annual Percentage Rate

• Credit

• Fiscal Policy

• Interest

The maximum amount you are allowed to carry as a balance on the card

• interest

• ARP

• credit limit

• All the above

This is a fee that some, but not all, credit card issuers charge to use their credit card.

• non-sufficient funds fee

• 
  APR

• annual fee

• monthly fee

The amount you must pay on a credit card, based on a percentage of the outstanding balance.

• minimum fee

• minimum payment

• monthly statement

• minimum monthly interest charge

Which one is considered a danger of using a credit card

• no cash needed

• earns rewards

• leads to overspending

• convenient

To build a good credit history, you should

• open as much credit as possible quickly

• 
  use the maximum credit allowed on all your credit cards

• pay on time and as much of your balance as possible

• 
  all of these

What does APR stand for?

• American Peoples Reports

• Annual Progress Report

• American Percentage Rate

• Annual Percentage Rate

What financial habits determine your credit score?

• 
  Payment History & Amount you owe 

• 
  Length of credit history & Amount of new credit applied for recently

• 
  Types of credit open

• All of these are correct

What are the three major Credit Reporting Agencies (CRAs)?  

• Equifax

• 
  TransUnion

• Experian

• All the above

What debt cannot be removed by declaring bankruptcy?

• Child Support

• Car Loan

• Credit Card

• Medical Bills