WorksheetsCredit Cards
Total questions: 10
Worksheet time: 6mins
A ____ __ ______ is a set amount of money that you are allowed to borrow.
(a)
This is money that you have to pay every year for using the credit card. It could be $0, or it could be several hundred dollars.
Annual fee
Annual percentage rate
Interest
Bill
The amount of interest that is charged on a credit card balance.
Late fee
Mortgage
Annual percentage rate (APR)
Annual fee
You need to be 18 or older to apply for any type of credit card and have a job or income.
True
False
A fee that you have to pay when you withdraw money with the credit card at an ATM or bank. It is usually around 3% of the money withdrawn plus other fees.
APR
Late fee
Cash advance fee
Foreign transaction fee
This is a charge for each time you go over your credit card limit. For example, if you were approved for a credit line of a $1000 for your credit card, and you go over this limit by $1.
Cash advance fee
Over-the-limit fee
Interest
Foreign transaction fee
The better you credit rating the larger amount you will be allowed to borrow (the higher your credit line or limit).
True
False
It is a good idea to pay only the minimum amount due on your credit card bill.
True
False
A loan is revolving, and a credit card is not.
True
False
The average credit card holder in the United States has (a) credit cards.
