Credit Cards

Front

What is the minimum payment on a credit card?

Back

The least amount you can pay to keep the card active. If you pay less, your card will be deactivated.

Front

Which of the following is not a benefit of a credit card?

Back

Annual fees are not a benefit of a credit card.

Front

What does a credit card company set limits on?

Back

A credit card company sets limits on how much you can charge on your card, known as the credit limit.

Front

What does the number 3 represent on a credit card?

Back

The number 3 typically represents the cardholder's name.

Front

Which of the following is not a type of credit card?

Back

A debit card is not a type of credit card.

Front

What is a credit limit?

Back

The maximum amount of money that can be charged on a credit card.

Front

What is the interest rate on a credit card?

Back

The percentage charged on the outstanding balance if not paid in full by the due date.

Tags

CCSS.7.RP.A.3

Front

What is the purpose of rewards programs in credit cards?

Back

To incentivize spending by offering points, cash back, or other benefits for purchases.

Front

What is a credit score?

Back

A numerical representation of a person's creditworthiness, often used by lenders to assess risk.

Front

What happens if you miss a credit card payment?

Back

You may incur late fees, increased interest rates, and potential damage to your credit score.