WorksheetsLoans and Credit Cards
Total questions: 11
Worksheet time: 7mins
Name
Class
Date
1.
The amount charged if your payment is received after the billing due date.
a)
late payment fee
b)
overdue fee
c)
withdrawal fee
d)
loser fee
2.
The maximum amount you are allowed to carry as a balance on the card
a)
interest
b)
ARP
c)
credit limit
d)
all of these
3.
This is a fee that some, but not all, credit card issuers charge to use their credit card.
a)
APR
b)
annual fee
c)
monthly fee
d)
non-sufficient funds fee
4.
The amount you must pay on a credit card, based on a percentage of the outstanding balance.
a)
minimum fee
b)
minimum payment
c)
monthly statement
d)
minimum monthly interest charge
5.
Benefits of credit cards include:
a)
safe and convenient, bonuses are offered
b)
allows you to build a positive credit report
c)
needed for reservations and online shopping
d)
all of these
6.
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
7.
What does APR stand for?
a)
American Peoples Reports
b)
Annual Progress Report
c)
American Percentage Rate
d)
Annual Percentage Rate
8.
A withdrawal of cash from your credit card
a)
Cash Advance
b)
Borrower
c)
Credit Report
d)
Debit Card
9.
A lower APR provided by a credit card company for a limited period of time.
a)
introductory rate
b)
penalty rate
c)
maximum rate
10.
Moving an unpaid balance from one open credit to another.
a)
grace period
b)
balance transfer
c)
cash advance
11.
What is the period of time after a payment is due?
a)
Minimum payment
b)
Grace Period
c)
Late payment fee
d)
Due date
100 %
