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WorksheetsUnit 3 Review #3
Total questions: 11
Worksheet time: 5mins
Which action is LEAST important to maintaining a healthy credit scores?
Check your credit report annually
Fix inaccurate information on your credit report
Know your exact credit score
Make on-time payments
Annual Percentage Rate (APR) is the way of stating the interest rate you will pay if you carry over a balance, take out a cash advance, or transfer a balance from another card.
True
False
The yearly charge for credit card ownership is called a balance transfer fee.
True
False
Which of the following is the time allowed before finance charges are applied?
Insterest term
Grace period
Annual period
Term
The annual percentage rate on a credit card determines _____.
How many credit cards you can own
The amount your credit limit can go up within a year
The amount of interest you are charged on credit card purchases
None of the options
What is a credit limit?
How many credit cards you can own
The amount of interest you are charged each month
The required payment to your credit card company
The maximum amount you can charge each billing cycle
Which of the following can increase your credit card’s APR?
Paying the minimum
Paying off the full balance
Cashing in on rewards points
Missing a credit card payment by 60+ days
Which of the following is a safety tip you should use when using credit cards?
Do not let anyone borrow your card
Report lost or stolen cards promptly
Sign your card right away with a signature and “Please see ID”
All of the options
Which of the following is NOT a common credit card fee?
Balance transfer fee
Late payment fee
Minimum payment fee
Annual membership fee
Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month?
Annual Percentage Rate
Annual Percentage Yield
Balance Transfer Fee
Annual Membership Fee
Which payment method typically charges the highest interest rates?
Pre-paid cards
Cashier's checks
Debit cards
Credit cards
