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WorksheetsCredit Fundamentals
Total questions: 15
Worksheet time: 8mins
What is an annual fee?
A fee charged for the cancellation of a service or membership.
A fee charged once a year for the use of a service or membership.
What is an annual percentage rate?
The annual percentage rate (APR) is the interest rate charged on a loan or credit card on an annual basis.
The annual percentage rate (APR) is the interest rate charged on a loan or credit card on a daily basis.
What is a credit card?
A credit card lets you make monthly payments to repay money that you spend
What is credit history?
Credit history is a record of an individual's income and expenses.
Credit history is a record of an individual's borrowing and repayment activities.
What is a credit freeze?
A credit freeze is a security measure that restricts access to your credit report.
A credit freeze is a service that helps improve your credit score.
What is a credit report?
A credit report is a detailed history of how you have borrowed money in the past
What is credit score?
What is fraud alert?
What is minimum payment?
The minimum payment is the maximum amount of money that a borrower must pay towards their outstanding debt each month.
The minimum payment is the smallest amount of money that a borrower must pay towards their outstanding debt each month.
What is a student credit card?
Phishing is the fraudulent practice of sending emails pretending to be from respectable companies to get people to reveal personal information, such as passwords and credit card numbers
True
False
Interest is a fee that is charged when you pay your bill after the due date
True
False
Debt collection agency is a company hired to recover money that people haven’t paid back
True
False
What is a debit card?
A debit card is a credit card that allows the cardholder to borrow money from the bank.
A debit card is a payment card that allows the cardholder to make purchases with funds directly from their checking account.
Cosigner : Someone like a parent, family member, or friend who promises to pay back a loan if you don’t
True
False
