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WorksheetsCredit Card Pop Quiz
Total questions: 12
Worksheet time: 9mins
Name
Class
Date
1.
The least amount that must be paid on a credit card each month is
a)
Late Fee
b)
Credit Limit
c)
Payment amount
d)
Minimum Payment
2.
It is best to pay more than the minimum due on your credit card.
a)
True
b)
False
3.
It would be best to have a high credit score
a)
True
b)
False
4.
You have a choice between two credit cards: American Express 8.99% or Chase Sapphire 12.99%. Which card offers the better rate?
a)
American Express
b)
Chase Sapphire
c)
Neither
d)
All of the above
5.
Which of the following is an ADVANTAGE of credit?
a)
No need for carrying cash
b)
Annual Fees
c)
Interest Rates
6.
What type of credit is a credit card?
a)
Single-Payment
b)
Installment Credit
c)
Revolving Credit
7.
Benefits of credit cards include:
a)
safe and convenient, bonuses are offered
b)
allows you to build a positive credit report
c)
needed for reservations and online shopping
d)
all of these
8.
The maximum amount you may borrow on a credit card is known as:
a)
creditworthiness
b)
credit report
c)
credit limit
d)
variable rate of credit
9.
What is an annual fee?
a)
The act of transferring money
b)
A fee charged by a card issuer for being a card holder.
c)
The days between the last statement and the current statement.
d)
A fee charged to a cardholder's account once a payment is late.
10.
Each purchase is a loan that is repaid later
a)
Debit card
b)
Credit card
c)
Both
11.
You can purchase an item now and pay for it later.
a)
Debit card
b)
Credit card
c)
Both
12.
Why do lenders look at your credit?
a)
to know what your income is
b)
to know what you pay in rent
c)
to know if you’re a reliable friend
d)
to know if you’re financially responsible
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