Credit Cards

Front

What is the cost of borrowing money called?

Back

Interest.

Tags

CCSS.7.RP.A.3

Front

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

Back

By paying the balance in full every month.

Front

Which credit card offers a better rate: American Express 8.99% or Chase Sapphire 12.99%?

Back

American Express.

Front

What is the maximum amount you may borrow on a credit card known as?

Back

Credit limit.

Front

What is one advantage of having a credit card?

Back

It allows you to make purchases without carrying lots of cash.

Front

What does APR stand for in relation to credit cards?

Back

Annual Percentage Rate.

Front

What is a credit line?

Back

The maximum amount of credit that a lender will extend to a borrower.

Front

What is a credit report?

Back

A detailed report of an individual's credit history.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Front

What is creditworthiness?

Back

An assessment of a borrower's ability to repay a loan.

Front

What is a minimum payment on a credit card?

Back

The smallest amount you can pay to keep your account in good standing.