One difference between a fixed rate card and a variable rate card, is that a variable rate card-

Unit 2 Material Econ

Quiz
•
History
•
12th Grade
•
Easy
Deana Mullinax
Used 4+ times
FREE Resource
22 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
doesn’t have a changing APR, or at least doesn’t change often.
has an APR that changes from time to time and notification is not required.
must first notify you before increasing the APR
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Many credit card companies offer ________ to use their cards, such as rebates, frequent flier miles, and “free” gift cards to popular stores.
APRs
incentives
compound interest rates
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following terms refers to the number you are given based on key pieces of your credit history to calculate your score at the moment?
APR
Credit Limit
Credit Score
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would be considered an excellent credit score?
300
500
800
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the annual percentage rate for purchases for this credit card?
22.24%
19.24%
28.24%
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you receive a cash advance from the ATM using your credit card, what percent in interest will you pay on that cash?
19.24%
22.24%
28.24%
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On 5/12/22 you went to Target and buy school supplies for $20.50. You then go to Starbucks and buy a drink for $6.50. What is your balance in your checking account at the end of the day?
$27
$473
$479.50
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