Credit Cards
2 years ago
dkane204
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10 QuestionsShow answers
  • Question 1
    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
    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
    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
    30 seconds
    Q. It is best to pay more than the minimum due on your credit card.
    answer choices
    True
    False
  • Question 5
    30 seconds
    Q. It would be best to have a high credit score
    answer choices
    True
    False
  • Question 6
    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
    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
    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
    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
    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?
    answer choices
    Chase Sapphire
    American Express
    You pay the same amount of interest for both
    All of the above
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