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WorksheetsCredit Card
Total questions: 12
Worksheet time: 6mins
Someone who's in debt someone else money.
lends
owes
It may be very hard to get a loan if you have a .
poor credit score
small bank balance
On a credit card bill, the is the least amount of money you must pay.
available credit
minimum payment due
Always check your credit card to make sure that you're not being overcharged.
payment
statement
When you purchase something with a credit card, you .
automatically improve your credit score
buy it now and promise to pay for it later
pay for it now but receive it later
decrease your debt
If you have good credit, you .
will never have to borrow money
have never paid back money you owe on time
are more likely to be denied a loan
have a history of paying back money you owe on time
What is a minimum monthly payment?
the minimum annual percentage rate on credit card
the minimum amount on your credit card bill you need to pay each month
the minimum you must purchase with your credit card each month
the minimum interest you rack up each month
Which of the following is a FALSE statement?
Bad credit can make it hard for you to borrow money
Some credit cards come with low introductory costs
The interest you owe can never be more than your original purchase with a credit card
If you pay only the minimum monthly payment, your debt can add up quickly
Billy has bad credit. He likely .
always paid his whole credit card bill on time
doesn't have a credit card and has never borrowed money
will be able to make a large purchase, like a car
will have no hard time getting approved for loans
Cynthia hasn't established any credit at all. Which of the following is TRUE?
She has a high chances of getting approved for loans
She will always owe interest on her credit card bill
She will have an easy time buying her first home
Banks won't know if she's financially reliable
Kimberly pays her entire balance every month. She .
never owes interest on her purchases
never has a principal of $0
likely has bad credit
pays more than 100% in interest on her purchases
Jonas is still paying off a purchase he made many months ago. This is most likely because .
Jonas only makes the minimum payment every month
his credit card company is tricking him
Jonas pays his entire balance every month
his APR is 0%
