Credit Card Management Quiz

Match the term to its definition or description.

This is a kind of credit card where a borrower makes a deposit of collateral in the amount of credit that he or she is seeking. These credit cards are good for those who are building or rebuilding their credit histories.

• Secured Credit Card

• Unsecured Credit Card

• Prepaid Card

• Charge Card

A period of time when no interest is charged on a credit card. (If you pay the full amount of your monthly charges each month, you will not have to pay interest.)

• Grace Period

• Billing Cycle

• Annual Fee

• Cash Advance

A package of services designed to help consumers manage their debt, including credit education and a debt management plan.

• Credit Counseling

• Debt Settlement

• Bankruptcy

• Debt Consolidation

How much did Jane charge on her credit card last month? _ How much did Jane pay on her credit card last month? _ Because she did not pay the full amount last month, she has to pay interest on the difference of: _ The amount of interest that she has to pay is _ Jane charged _ on her credit card this month. Her new balance is _ Although the minimum payment is _, she should pay _ this month. Jane's limit on this card is _ and it will let her spend up to _ more this month. The payment is due on or before _. Jane must pay _ interest on purchases for the year- this is _ each month. If Jane went to a bank, or went to ATMs several times, how much cash could she get in one month using her credit card? _

• 100

• 200

• 300

• 400

The total amount of charges for this month so far is _. The highest charge was _ at _. The lowest charge was _ at _. On what day did this person make charges at the most places? _ Twice, this person charged the same amount of _ for _.

• 500

• 600

• 700

• 800

To whom should the payment check be sent? _ What is the least amount that should be sent? _ What amount should REALLY be sent? _ When is the payment due? _ By what date should the payment be mailed? _ What should be written on the memo line of the payment check? _ What do you write in the empty box in the middle of the payment stub? _ Why would you check the box at the top of the stub? _

• Bank Name

• Credit Card Company

• Your Name

• Your Address

What should you mail in the envelope to pay your credit card bill?

• Payment Check

• Credit Card Statement

• Application Form

• Identity Proof

If you think your payment will not be on time through the mail, you should _.

• Call Customer Service

• Send it Early

• Use Online Payment

• Ignore It

How much did Jim charge on his credit card last month? _ How much did Jim pay on his credit card last month? _ Jim charged _ on his credit card this month. Jim's limit on this card is _ and it will let him spend up to _ more this month. If Jim went to a bank, or went to ATMs several times, how much cash could he get in one month using his credit card? _

• 150

• 250

• 350

• 450