WorksheetsUsing credit responsibly - Exit Pass
Total questions: 4
Worksheet time: 2mins
What happens if you only pay the minimum payment on a credit card?
Your debt is cleared quickly
You will be charged interest on the remaining balance
The bank rewards you for making small payments
Your credit score improves immediately
Which of these is the best way to use a credit card?
Paying the full balance every month
Paying only the minimum amount
Ignoring the statement and paying whenever you remember
Maxing out the card for big purchases
Which of the following purchases would be a responsible use of a credit card?
A holiday you cannot afford
A designer handbag
An emergency car repair when you have no savings
A gaming console on a store card with 30% interest
If you borrow £500 on a credit card at 25% interest and don’t pay it off, what happens?
You earn cashback rewards for not paying
The debt stays the same until you pay it off
The credit card company forgives the debt
The amount you owe increases due to interest
