Understanding Credit Cards

What is the first step you should take before applying for a credit card?

• Ignore your credit score

• Determine your personal needs for a credit card

• Choose a card with the best rewards

• Apply for multiple cards to increase chances of approval

Which type of credit card is specifically designed for students?

• Rewards credit card

• Student credit card

• Business credit card

• Secured credit card

What information is typically required when applying for a credit card?

• Family history

• Previous credit card numbers

• Favorite color and pet's name

• Social security number and employment details

Why is it important to pay off your credit card balance in full each month?

• To receive more rewards

• To avoid interest charges

• To improve your credit score instantly

• To increase your credit limit

What is a recommended credit utilization rate to maintain?

• Above 50%

• Exactly 50%

• Below 30%

• 100%