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WorksheetsWhat do you know about Credit?
Total questions: 10
Worksheet time: 5mins
Does it help your credit scores to carry a credit card balance from month to month?
Yes
No
How does getting a NEW credit card affect your credit scores?
It always hurts your scores
It always helps your scores
It depends
It has no effect
How does closing an older, paid-off credit card affect your credit score?
It always hurts your scores
It always helps your scores
It depends
It has no effect
To improve your credit score, it’s smart to keep your credit balance:
As high as possible
Around 50% of your credit limit
Around 30% of your credit limit
As low as possible
It doesn't matter how much, just as long as you carry some balance from month to month
How many credit scores do most consumers have?
Most people don't have one
1
2
3
More than 3
Which of these factors is NOT included in your credit score?
Payment history
Household income
Amount of credit you're using
Types of credit in use
How much is a credit card point or mile worth?
Always 1 cent
Depends on how you redeem
Depends on whether it's a cash back or travel card
Most aren't worth anything
How do credit card companies make money? Select all that apply.
a. Fees and interest paid by cardholders
b. Investing your credit card debt
c. Fees paid by merchants
All of the above
For most credit cards, when do you begin accruing interest on purchases?
Once the bill is due
As soon as the purchase posts to your account
When you receive your statement
Which of the following makes a card with an annual fee worthwhile?
If the fee is waived in the first year
If the fee is less than $50
If you spend at least $15,000 a year on the card
If the rewards add up to more than the fee
It's never worth paying an annual fee
