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17 questions
What is a good practice when it comes to credit cards?
getting as many credit cards as possible
paying only the minimum
charging anything you want
paying the amount charged in full each month
There’s no penalty if I pay my credit card balance after the due date.
True
False
When Bryce attempted to borrow money at the bank, he learned that his credit score is low. Which best describes what this is likely to mean for Bryce?
The interest rates on his loan will be lower, since his credit score is low.
The purchase price of the item he needs the loan for will be higher due to his low credit score.
The monthly loan payments will be lower due to his lower credit score.
The interest rates on his loan will be higher, since his credit score is low.
Jake’s credit application has been declined because of his negative credit history. Which is most likely to be true?
Jake pays his bills consistently and on time.
Jake has applied for 4 credit cards and a car loan in the past 6 weeks.
Jake has received 3 traffic tickets in the past 2 months.
Jake holds 2 store credit cards, a bank credit card, a car loan, and a mortgage.
Becky no longer wants to use her Clothes-R-Us store credit card. What is the best thing she could do with the credit card?
File the credit card away for use at a later time.
Let a family member take over the credit account so her credit score will not be affected.
Keep the credit card in her wallet in case she needs proof of identification.
Close the account by phone and in writing, then destroy the card.
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