Credit Cards

Front

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

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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

It would be best to have a high credit score

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True

Front

Only making the minimum payment on a credit card every month will:

Back

take longer to pay off which will result in paying more interest, more money!

Front

You have a choice between two credit cards: American Express 8.99% or Chase Sapphire 12.99%. Which card offers the better rate?

Back

American Express

Front

You charge $500 on each of your two credit cards. One is American Express with an interest rate of 15.99%. The other is Chase Sapphire with an interest rate of 20.99%. Assuming that you are only making the minimum payment of $25 to each of the credit card companies, which card will you pay off first?

Back

American Express

Front

You charge $500 on each of your two credit cards. One is American Express with an interest rate of 15.99%. The other is Chase Sapphire with an interest rate of 20.99%. Assuming that you are only making the minimum payment of $25 to each of the credit card companies, which card will you have paid more interest for?

Back

Chase Sapphire

Front

Which of the following is an ADVANTAGE of credit? No need for carrying cash, Annual Fees, Interest Rates

Back

No need for carrying cash