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Future Fridays: Credit Cards

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

The least amount that must be paid on a credit card each month is

a)

Late Fee

b)

Credit Limit

c)

Payment Amount

d)

Minimum Payment

2.

How can a cardholder avoid paying interest on a credit card?

a)

Do not pay anything

b)

Pay the minimum payment after its due date

c)

Pay the balance in full every month

d)

Pay the minimum balance every month

3.
FICO Scores are calculated from a lot of different credit data in your credit report and are scored from _____ to _____.
a)
100 to 1600
b)
300 to 850
c)
1 to 36
d)
1 to 2400
4.

The cost of borrowing money is referred to as

a)

Credit Line

b)

Credit

c)

Annual Percentage Rate

d)

Interest

5.

A PIN (Personal Identification Number). What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

6.

Small, hard, plastic card. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

7.

Interest may be charged, but can be avoided by paying the entire balance each month. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

8.

Each purchase is a loan that is repaid later. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

9.

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

10.

Card can be used to purchase goods or services. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

11.

Kristy’s gas pump went out as she was driving her car. Since she did not have enough money to cover the cost to replace the pump, she used a card that allowed her to pay later. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

12.

Money is withdrawn directly from a checking or savings account. What type of card is this?

a)

Credit Card

b)

Debit Card

c)

Credit Card & Debit Card

13.

What is a credit limit?

a)

the maximum amount of money you can borrow with one card

b)

the minimum amount of money you can borrow with one card

c)

the amount of money that you borrowed

d)

the amount of money that must be repaid

14.

a number that shows if a person has good credit

a)

credit reference

b)

credit score

c)

lender

d)

debt

15.

a charge added to a bill if a payment is not made on time

a)

debt

b)

interest

c)

late fee

d)

creditor

16.

the amount of money owed to a business or a bank

a)

lender

b)

credit card

c)

transaction

d)

debt

17.

the amount of credit you have left to spend

a)

debt

b)

minimum payment

c)

available credit

d)

fraud

18.

a record of a person's debt

a)

available credit

b)

credit score

c)

credit reference

d)

credit history

19.

a businesslike exchange

a)

sell

b)

lend

c)

transaction

d)

cheat

20.

The day when you have to have your payment to the credit card company (or pay late fee).

a)

due date

b)

transactions

c)

variable