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WorksheetsModule 2- Credit 101 - Section 2 Quiz
Total questions: 10
Worksheet time: 5mins
What is a credit card?
A card that holds your own money
A way to get free stuff from the bank
A tool that lets you borrow money to make purchases
A special kind of debit card
What happens if you don’t pay your credit card bill in full by the due date?
Your credit limit increases
You’re charged interest
Your balance is erased
You get more reward points
What is a credit limit?
The minimum amount you have to spend
The total amount of money you earn
The maximum amount you can borrow on a card
The number of cards you’re allowed to have
What’s the smart way to treat your credit card?
Like free money
Like cash—only spend what you can pay off
Like a gift card
Like a reward machine
What’s one benefit of paying your full credit card balance each month?
You earn more rewards
You avoid paying interest
Your credit limit resets
You get a new card
Why is it important to keep your credit usage under 30%?
To avoid overspending
To earn bonus points
To raise your credit score
Both A and C
What should you do to avoid missing payments?
Just try to remember the due date
Only use the card once a month
Set up autopay or calendar reminders
Pay only the minimum due
Which of the following is a good way to build credit at 18?
Open 5 cards at once
Get added as an authorized user on a parent’s card
Share your PIN with a friend
Wait until you’re 30
What’s a safe credit card habit?
Posting your card info online
Sharing your security code with a best friend
Shopping on “http” websites
Reviewing your monthly statements
Why can credit card rewards be risky?
You have to use your whole credit limit
They make people overspend
Interest can cancel them out if you carry a balance
Both B and C
