Bank Accounts Review

Front

Why is it important to check your credit card statement each month?

Back

To check for errors, ensure the right fees and interest are included, and look for fraud.

Front

What is the smallest payment a customer can make each statement period to keep the account in good standing?

Back

Minimum payment.

Front

Which type of card is necessary to rent a car or book a hotel room?

Back

Credit card.

Front

Where is a safe place to store your money?

Back

Bank, building society, or credit union.

Front

How can interest on a credit card be avoided?

Back

By paying the entire balance each month.

Front

What is a credit card?

Back

A card that allows you to borrow money from a bank to make purchases, which must be paid back with interest.

Front

What is a debit card?

Back

A card that deducts money directly from your bank account to pay for purchases.

Front

What is the purpose of a minimum payment on a credit card?

Back

To keep the account in good standing and avoid penalties.

Front

What is fraud in the context of credit cards?

Back

Unauthorized use of a credit card to make purchases.

Front

What is a balance transfer?

Back

Moving debt from one credit card to another, often to take advantage of lower interest rates.