U2L18 Credit Cards

Front

The cost of credit expressed as a yearly interest rate is known as:

Back

Annual Percentage Rate (APR)

Front

Benefits of credit cards include: safe and convenient, bonuses are offered, allows you to build a positive credit report, needed for reservations and online shopping.

Back

all of these

Front

The maximum amount you may borrow on a credit card is known as: creditworthiness, credit report, credit limit, variable rate of credit

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credit limit

Front

What is an annual fee?

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A fee charged by a card issuer for being a card holder.

Front

Examples of penalty fees include: over-the-limit fee, late payment fee, returned payment fee,

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all of these

Front

Is it wise to compare credit card offers before choosing one?

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True

Front

Having a high credit score will allow lenders to give you lower interest rates.

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True

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?

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Pay the balance in full every month

Front

What is a good practice when it comes to credit cards?

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paying the amount charged in full each month