WorksheetsCredit Card Knowledge Quiz
Total questions: 15
Worksheet time: 8mins
What are credit cards considered as?
Free money
Loans
Gifts
Investments
What must you do to avoid paying interest on a credit card?
Pay your bill on time
Spend more than the limit
Ignore the bill
Use another card
What does a credit score measure?
Your income level
How reliable a payer you are
Your spending habits
Your savings
Why is having a good credit score important?
So you can buy a car or a house
To avoid taxes
To get approved for loans at low interest rates
To increase spending limits
What is one thing to consider when getting a credit card?
The color of the card
Annual fee
The bank's location
The card's design
What is required to become an authorized user on a family member's account?
A high income
Good credit
A personal loan
A business account
What is a secured credit card?
A card with no limit
A card that requires a deposit to open
A card with high interest rates
A card for international use
What does a student credit card usually have?
Higher interest rates
Lower Annual Percentage Rate
No credit limit
No fees
What is the balance on a credit card?
The amount you spend that month
The total credit limit
The interest rate
The annual fee
What do lenders use the deposit for in a secured credit card?
To increase the credit limit
To pay the balance
To offer rewards
To reduce interest rates
What is one benefit of becoming an authorized user?
Free travel points
Helps build credit
No need to pay bills
Unlimited spending
What do you need to provide when applying for a credit card?
A family photo
Social Security Number
A letter of recommendation
A passport
What is a late fee?
A reward for early payment
A penalty for not paying on time
A discount on purchases
A bonus for high spending
What is the purpose of a deposit in a secured credit card?
To earn interest
To act as a 'back-up' plan
To increase the credit limit
To avoid annual fees
What is one reason to have a good credit score?
To get a free credit card
To get approved for an apartment
To avoid paying taxes
To receive cash back
