Credit cards

The maximum amount you may borrow on a credit card is known as:

• creditworthiness
• credit report
• credit limit
• variable rate of credit

What is an annual fee? 

• The act of transferring money 
• A fee charged by a card issuer for being a card holder. 
• The days between the last statement and the current statement. 
• A fee charged to a cardholder's account once a payment is late. 

Examples of penalty fees include:

• over-the-limit fee
• late payment fee
• returned payment fee
• all of these

How can you avoid paying interest fees on your credit card?

• Only use it for groceries
• pay off the full balance, on time, each month
• you cannot avoid interest fees
• only use Discover

The cost of borrowing money is referred to as 

• Interest 
• Annual Percentage Rate 
• Credit 
• Credit Line 

Why would your credit provider give you a credit limit?

• To remind you to pay your bill on time.
• To prevent you from enjoying the things you buy.
• To prevent you from spending more money than you can pay back.
• To prevent you from shopping in certain places.

Which type of card will charge fees if there is an unpaid balance at the end of the month?

• Credit card

• Debit card

Which type of card pulls money that you already have directly out of your bank account?

• Credit card

• Debit card

You can purchase an item now and pay for it later.

• Debit card
• Credit card
• Both

What happens when you don't have enough money to pay for the things you charged?

• You end up owing less than the original amount of money you charged.
• You end up owing more than the original amount of money you charged.
• You end up owing the same amount of money you charged, it just takes a while to pay off.