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WorksheetsFinancial Literacy: Credit 8.2
Total questions: 10
Worksheet time: 5mins
Interest and fees is the way...
Credit Card Companies make their money
Banks make their money
Store cards make their money
All of the above
Which one is not a benefit of a credit card?
Rewards
Cash back
Travel Points
Interest
Which example will happen to you if you do not pay off your credit card monthly by the due date?
Rewards
Travel Points
Interest and Fees
Cash Back
When you apply for a credit card what type of information with the company consider when deciding a limit?
Your credit history
Income
Paying your bills on time
All of these may be considered
What type of loan is a credit card?
Long Term
Short Term
Free term
Credit cards...
Charge interest and fees
Make money when you are late
Can and do increase your limit
All are true about credit cards
When apply for a credit card is a good thing to read the entire application no longer so that you will?
Understand the grace period
Understand how much interest is being charged
Understand the fees
All of these things should be considered when applying for a credit card
If you pay your bills on time which of the following could happen?
Improve your credit score
Increase your limit
Get rewards
All are a result of paying your bills
What is a bad credit score?
380
480
580
780
All of the above except 780 is undesirable
What does FICO stand for?
Fair Isaac Corporation
Fair Isaac Company
Fair Is Company
Fair Isa Corporation
