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10 QuestionsShow answers
Question 1
SURVEY
30 seconds
Q. The least amount that must be paid on a credit card each month is
answer choices
Late Fee
Credit Limit
Payment amount
Minimum Payment
Question 2
SURVEY
30 seconds
Q. How can a cardholder avoid paying interest on a credit card?
answer choices
Do not pay anything
Pay the minimum payment after its due date
Pay the minimum balance every month
Pay the balance in full every month
Question 3
SURVEY
30 seconds
Q. The credit company can charge interest if the credit card bill is not paid in full by the due date
answer choices
True
False
Question 4
SURVEY
30 seconds
Q. It is best to pay more than the minimum due on your credit card.
answer choices
True
False
Question 5
SURVEY
30 seconds
Q. It would be best to have a high credit score
answer choices
True
False
Question 6
SURVEY
30 seconds
Q. A credit report is a report showing a borrower's history of how well they paid their bills.
answer choices
True
False
Question 7
SURVEY
30 seconds
Q. Only making the minimum payment on a credit card every month will:
answer choices
lower the amount total paid for the purchase
make you independently wealthy
take longer to pay off which will result in paying more interest, more money!
pay off the credit card faster
Question 8
SURVEY
30 seconds
Q. You have a choice between two credit cards: American Express 8.99% or Chase Sapphire 12.99%. Which card offers the better rate?
answer choices
American Express
Chase Sapphire
Neither
All of the above
Question 9
SURVEY
30 seconds
Q. You charge $500 on each of your two credit cards. One is American Express with an interest rate of 15.99%. The other is Chase Sapphire with an interest rate of 20.99%. Assuming that you are only making the minimum payment of $25 to each of the credit card companies, which card will you pay off first
answer choices
Chase Sapphire
American Express
Interest rate does not affect your minimum payments
All of the above
Question 10
SURVEY
30 seconds
Q. You charge $500 on each of your two credit cards. One is American Express with an interest rate of 15.99%. The other is Chase Sapphire with an interest rate of 20.99%. Assuming that you are only making the minimum payment of $25 to each of the credit card companies, which card will you have paid more interest for?