Understanding Credit Cards

Understanding Credit Cards

12th Grade

10 Qs

quiz-placeholder

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Understanding Credit Cards

Understanding Credit Cards

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

COLTON GROVE

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is the minimum credit score?

300
600
500
400

2.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is the maximum credit score?

850
750
900
700

3.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is the average credit card interest rate?

15%

5%

35%

24%

4.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What does APR stand for?

Annual Payment Rate
Adjusted Payment Rate
Annual Percentage Rate
Average Percentage Rate

5.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

If your APR is 24%, what is your monthly interest?

3%
5%
1%
2%

6.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is the range for annual fees for a credit card?

$0 to $5

$10 to $100

$95 to $500

$500 to $700

7.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Which of the following is NOT true when it comes to missing credit card payments?

Credit Card companies will usually forgive you

Your credit score drops

You have Late Payment Fees

Your interest rate goes up

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