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- 1. Multiple Choice
An interest rate charged to borrower during the initial stages of a loan.
Reward
Annual Fee
Grace Period
Introductory Rate
- 2. Multiple Choice
The annual rate charged for borrowing or earned through investment.
APR
Introductory Rate
Annual Fee
Credit Limit
- 3. Multiple Choice
The fee automatically charged to a credit card annually account for the benefits of that card.
Monthly Fee
Annual Fee
Fraud
Grace Period
- 4. Multiple Choice
Incentive program for using that credit card instead of a different form of payment.
Late Fee
Grace Period
Incentives for choosing your credit card
Rewards for using the credit card
- 5. Multiple Choice
A period of time after the due date that you can make the payment.
Credit Limit
Grace Period
Over Limit Fee
Payment Time
- 6. Multiple Choice
Wrongful or criminal deception intended to result in financial or personal gain.
Decepticredit
Phishing
Identity Theft
Fraud
- 7. Multiple Choice
Acquisition and use of a person's private identifying information, usually for financial gain.
Fraud
Identity Theft
Phishing
Credit Theft
- 8. Multiple Choice
The maximum amount of credit a credit card company allows a borrower on a card.
Credit Limit
Over Limit Fee
Spending Limit
Credit Cap
- 9. Multiple Choice
A charge a consumer pays for making a required minimum payment after the due date.
Over Limit Fee
After Due Date Fee
Late Fee
Post-Dating
- 10. Multiple Choice
A fee charged when your balance goes over your credit limit.
Balance Fee
Over Limit Fee
Credit Limit Fee
Compensation Fee
- 11. Multiple Choice
What is the APR (interest rate) on this card for Purchases made during the first six months that a cardholder has this card?
0%
15.24%
23.24%
25.24%
- 12. Multiple Choice
Assume that Louisa carried an average balance of $1,000 from her credit card purchases over the past year. The A.P.R. on her credit card for the past year was 19.99%. Approximately how much interest would Louisa have paid over the course of the year?
She would have paid interest charges of $2,000.
She would have paid interest charges of $20.
The credit card company would have paid Louisa $20.
She would have paid interest charges of $200.
- 13. Multiple Choice
All of the following actions lead to the payment of a credit card fee EXCEPT
Using your credit card to get cash from an ATM.
Using your credit card to purchase items in a foreign country.
Paying your credit card bill ten days after the Due Date.
Paying your credit card bill in full and on time every month.
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