WorksheetsUntitled Quiz
Total questions: 10
Worksheet time: 10mins
What is a credit card?
A credit card is a payment card that enables the holder to borrow funds for purchases they can pay back later
A credit card is a card used specifically used only for bills
A credit card is a prepaid card that limits spending and is specific for food bills.
What happens in the event of a credit card default?
The credit card will be canceled and you will have to pay money.
The credit card company can raise your interest rates.
What is revolving payment?
A line of credit that remains available over time, even if you pay the full balance
Payments that you have to pay for the rest of your life.
A payment you have to pay for living on earth
Line of credit that doesn't remain constant
What is the definition of principal?
The principal is the original sum of money
What are annual fees?
Payments you pay for the privilege of having a credit card.
Fees you pay for subscriptions.
Fees to pay on credit card when you go to school.
Fees you pay when you lose your credit card.
What are some rewards you can get for having a credit card?
What is the credit limit based upon?
(a)
The recommended credit limit is 75% of net income
What is a debit card?
What is an installment payment?
Someone paying a bill in small portions throughout a set period of time
Someone paying a bill in small increments with set time
Someone paying someone to install their TVs
Someone paying $7,000,000 to install electricity.
