WorksheetsReview of Credit Card Information
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
All of the following are examples of benefits of credit, EXCEPT:
a)
Increase your standards of living
b)
Safer than cash
c)
Buying power
d)
Can tie up future income
2.
Over time, people who pay off their credit card balance in full every month will pay less in interest on their credit card.
a)
true
b)
false
3.
The amount credit costs, expressed as a yearly percentage.
a)
periodic rate
b)
APR
c)
finance charge
d)
previous balance
4.
Credit card companies must give you ample time th repay your debt. Approximately how long is ample time?
a)
7 Days
b)
1 Year
c)
30 Days
d)
24 Hours
5.
What does your credit history NOT consist of?
a)
35% Payment History
b)
15% Credit History
c)
20% Credit Type
d)
30% Amount Owed
6.
What is considered a good credit score?
a)
760 - 850
b)
700 - 759
c)
660 - 699
d)
620 - 659
7.
630 is what type of credit score
a)
excellent
b)
poor
c)
average
d)
good
8.
is a loan that you must repay in a specified number of equal monthly payments. Includeautomobile loans, mortgages, and educaon loans.
a)
Open-End Credit
b)
Closed-End Credit
9.
also known as revolving credit) is extended as a lineof credit established in advance so you do not haveto apply for credit each me new credit is desired. Example: credit cards
a)
Open-End Credit
b)
Closed-End Credit
10.
Race, religion, gender, and naonality may not be included on a credit report.
a)
True
b)
False
100 %
