Credit

Front

The cost of borrowing money is referred to as _______________.

Back

Interest

Front

The amount charged if your payment is received after the billing due date.

Back

late payment fee

Front

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

Back

credit limit

Front

Benefits of credit cards include: safe and convenient, bonuses are offered, allows you to build a positive credit report, needed for reservations and online shopping

Back

all of these

Front

Which one is considered a danger of using a credit card? Options: no cash needed, convenient, earns rewards

Back

leads to overspending

Front

Your credit score is not configured off of which of the following: Payment history, Amount owed, Where you live, Length of credit history

Back

Where you live

Front

One of the 3 C's of credit that shows one's ability to pay is

Back

capacity

Front

To build a good credit history, you should

Back

pay on time and as much of your balance as possible

Front

Over time, people who pay off their credit card balance in full every month will pay less in interest on their credit card.

Back

true

Front

One of the 3 C's of credit that refers to property that secures the loan is

Back

collateral