WorksheetsCredit Card Knowledge Quiz
Total questions: 25
Worksheet time: 13mins
What is the main purpose of a credit card?
To store cash securely
To allow purchases now and pay later
To replace a debit card
To withdraw cash from an ATM
What does APR stand for in relation to credit cards?
Annual Percentage Rate
Average Payment Ratio
Automated Payment Requirement
Account Processing Rate
Which factor has the greatest impact on your credit score?
The number of credit cards you own
Your payment history
The amount of money in your savings account
Your yearly income
What happens if you only pay the minimum payment on your credit card?
Your balance is paid in full
You avoid paying any interest
You will pay more in interest over time
Your credit score increases
What is a credit limit?
The maximum amount you can charge on your card
The amount you owe each month
The amount of interest you pay
The minimum amount due on your card
What is the grace period on a credit card?
The time between making a purchase and the transaction posting
The time between the statement date and the payment due date when no interest is charged
The time you have to dispute a charge
The time it takes to receive a refund
What happens if you exceed your credit limit?
Your credit score increases
The card company automatically raises your limit
You may face fees or declined transactions
The excess amount is erased
How can you avoid paying interest on a credit card?
By making only the minimum payment
By paying the full balance each month
By only using the card for emergencies
By calling the credit card company
What is a secured credit card?
A credit card with no credit limit
A card backed by a cash deposit
A card used only for online shopping
A card that doesn’t require a credit check
What does a balance transfer do?
Moves debt from one credit card to another
Converts a credit card into a debit card
Transfers funds from savings to credit
Withdraws cash from your credit card
What does “https” in a website URL indicate?
The site is for high-traffic pages
The site is secure and encrypted
The site is a government website
The site is an international business
Which is the safest method for making online purchases?
Entering your debit card information on any website
Using a public Wi-Fi connection to check out
Paying with a credit card on a secure website
Sending cash through the mail
Why should you avoid saving your credit card information on retail websites?
It slows down future purchases
It increases the risk of your information being stolen
It makes checking out more complicated
It prevents refunds from being processed
What is a sign that an online shopping website might be a scam?
Prices that are much lower than other retailers
A professional-looking homepage
A detailed return policy
Multiple payment options
What is the best way to verify if an online store is legitimate?
Check for a padlock icon and “https” in the URL
Click on random links on the site
Look for pop-up ads
Assume all online stores are safe
What is identity theft?
Losing your driver’s license
When someone steals your personal information to commit fraud
Forgetting your passwords
Using a fake name online
What is phishing?
A fraudulent attempt to steal personal information through fake emails or messages
A secure way to pay online
A government program to catch scammers
An online shopping feature
Which of the following is a common red flag of a phishing scam?
An email from your bank asking for account details
A text from a friend
A security alert from your phone
A receipt from an online purchase
What should you do if you receive a suspicious email asking for personal information?
Click the link and follow the instructions
Delete it and report it as phishing
Reply with fake information
Call the sender immediately
Why is it dangerous to use public Wi-Fi for online shopping?
It slows down your internet speed
Hackers can intercept your personal information
It increases your bank fees
It is against the law
What should you do if you suspect fraudulent activity on your credit card?
Wait and see if it happens again
Report it to your credit card company immediately
Withdraw all your money from your account
Post about it on social media
What is a fraud alert?
A warning issued by your bank about potential fraud
A type of scam
A law enforcement investigation
A credit card feature
How often can you check your credit report for free?
Once a month
Once a year
Every two years
Only when you apply for a loan
What does Two-Factor Authentication (2FA) provide?
An extra layer of security when logging in
A way to access your account without a password
A way to share your login details safely
A password reset feature
If you receive a call from someone claiming to be from the IRS demanding payment, what should you do?
Provide your payment details
Hang up and report the call
Call them back later
Follow their instructions to avoid penalties
