What is a credit card?
Credit Cards

Flashcard
•
Mathematics
•
11th - 12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
A credit card is a financial tool that allows individuals to borrow money from a bank or financial institution to make purchases, with the agreement to pay back the borrowed amount, usually with interest.
2.
FLASHCARD QUESTION
Front
Who do you agree to pay when you make a credit card purchase?
Back
You agree to pay your credit card company.
3.
FLASHCARD QUESTION
Front
How can you avoid paying interest fees on your credit card?
Back
By paying off the full balance, on time, each month.
4.
FLASHCARD QUESTION
Front
What happens if you don't have enough money to pay for the things you charged on your credit card?
Back
You end up owing more than the original amount of money you charged.
5.
FLASHCARD QUESTION
Front
What is the minimum payment on a credit card?
Back
The least amount that must be paid on a credit card each month.
6.
FLASHCARD QUESTION
Front
What is a credit limit?
Back
The maximum amount of money that can be charged on a credit card.
7.
FLASHCARD QUESTION
Front
What is a credit score?
Back
A numerical representation of a person's creditworthiness, based on their credit history.
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