Chapter 4 Going into Debt 12/2024 Practice

Flashcard
•
Social Studies
•
11th - 12th Grade
•
Hard
Wayground Content
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40 questions
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1.
FLASHCARD QUESTION
Front
Which of the following is your credit score based on? payment history, amount owed, new credit opened
Back
all of these
2.
FLASHCARD QUESTION
Front
Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when:
Back
selecting a credit card
3.
FLASHCARD QUESTION
Front
If you only pay the minimum payment each month on your credit card, what will happen?
Back
you will pay more in interest
4.
FLASHCARD QUESTION
Front
If you build a good credit history, it will lead to lower rates on revolving credit and other forms of credit.
Back
true
5.
FLASHCARD QUESTION
Front
Under the Truth in Lending Act, what must all organizations state?
Back
all organizations must state the true APR that they charge their customers
6.
FLASHCARD QUESTION
Front
If you spread out your loan repayment over time, it will usually mean a _____________ interest rate.
Back
higher
7.
FLASHCARD QUESTION
Front
Comparing which of the following is the best way to select a credit card? annual fees, foreign transaction fees, balance transfer fees, APRs
Back
APRs
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