Unit 8 - Credit Card Q's

Front

Which card is it? Purchase is withdrawn directly from a checking or savings account.

Back

Debit card

Front

Which card allows you to purchase an item now and pay for it later? (Like a loan)

Back

Credit card

Front

You can build your credit score with a _________

Back

credit card

Front

Benefits of credit cards include: safe and convenient, bonuses are offered, allows you to build a positive credit report, needed for reservations (hotels, car rentals) and online shopping, all of these

Back

all of these

Front

The least amount that must be paid on a credit card each month is the

Back

Minimum Payment

Front

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

Back

Pay the balance in full every month

Front

The credit company can charge interest if the credit card bill is not paid in full by the due date

Back

True

Front

It is best to pay more than the minimum due on your credit card.

Back

True

Front

There’s no penalty if I pay my credit card balance after the due date.

Back

False

Front

The maximum amount you may borrow on a credit card is known as:

Back

credit limit