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WorksheetsCredit Cards
Total questions: 10
Worksheet time: 3hrs 30mins
Name
Class
Date
1.
Interest rate charged for balances on a credit card.
a)
APR
b)
Principal
c)
Collateral
d)
Fees
2.
Users can earn rewards like cash back or points toward travel
a)
Credit
b)
Debit
c)
Both
3.
This card is linked to a checking account
a)
Credit
b)
Debit
c)
Both
4.
Customers spend the money in their accounts at the time of purchase
a)
Credit
b)
Debit
c)
Both
5.
Users borrow money on the card and pay it at a later time
a)
Credit
b)
Debit
c)
Both
6.
Interest may be charged.
a)
Debit card
b)
Credit card
c)
Both
7.
What does APR mean?
a)
Average Person Ratio
b)
Annual Percentage Rate
c)
Always Poke Robots
d)
Apples Peas & Rice
8.
What is a good way to build credit?
a)
Get a co-signer for a loan
b)
Only use cash
c)
Use checks everywhere
9.
Each purchase is a loan that is repaid later.
a)
Debit Card
b)
Credit Card
10.
Amount charged if your payment is received after the billing date
a)
late payment fee
b)
overdue fee
c)
withdrawal fee
d)
loser fee
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