Pers Fin Lit

APR divided by 12 is this:

• Minimum payment

• Periodic rate

• finance charges

• Annual % rate

The period of time before the interest hits

• Cash advance

• Periodic rate

• Minimum payment

• Grace period

• Interest limit period

T/F: It is okay to miss a credit card payment as long as you pay it before the Interest rate is applied?

You should treat your Credit Card like a:

• Credit limit card

• Black Card

• Credit card

• Cash Card

• Debit Card

What Percentage should your utilization be at?

• 5%

• 10%

• 20%

• 30%

• 2%

T/F: You should always know your APR and pay the minimum payment each month?

Interest and fees for making purchases with your Credit card are:

• APR

• Grace period

• Finance charges

• Credit limit

• Previous balance

Where companies explain their terms is:

• Term lease agreement

• lease agreement

• Company disclosure

• Truth in lending disclosure

• Company Limits agreement

EXTRA CREDIT: Write as many of the 5 tips that you remember(More = More points)

Explain the meaning of Debt: