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WorksheetsCredit and Debt Management
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
The least amount that must be paid on a credit card each month is
a)
Minimum Payment
b)
Late Fee
c)
Credit Limit
d)
money time
2.
The credit company can charge interest if the credit card bill is not paid in full by the due date.
a)
True
b)
False
3.
How can a cardholder avoid paying interest on a credit card?
a)
Pay the balance in full every month
b)
Pay the minimum payment after its due date
c)
Do not pay anything
d)
Pay the minimum balance every month
4.
Only making the minimum payment on a credit card every month will:
a)
lower the amount total paid for the purchase
b)
take longer to pay off which will result in paying more interest, more money!
c)
pay off the credit card faster
5.
It is best to pay more than the minimum due on your credit card.
a)
True
b)
False
6.
It would be best to have a high credit score
a)
True
b)
False
7.
A credit report is a report showing a borrower's history of how well they paid their bills.
a)
True
b)
False
8.
You have a choice between two credit cards: American Express 8.99% or Chase Sapphire 12.99%. Which card offers the better rate?
a)
Chase Sapphire
b)
American Express
9.
Paying credit card payments on time is
a)
positive
b)
negative
c)
silly
d)
a waste of energy
10.
A credit card is
a)
Pre-approved credit which can be used for the purchase of goods and services now and payment of them later
b)
Credit which must be repaid in a series of equal payments
c)
A plastic card that is electronically connected to the cardholder's bank account
d)
None of the above
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