Credit Credit Credit

The cost of borrowing money is referred to as 

• Interest 
• Annual Percentage Rate 
• Credit 
• Credit Line 

The amount charged if your payment is received after the billing due date.

• late payment fee
• overdue fee
• withdrawal fee
• loser fee

The maximum amount you are allowed to carry as a balance on the card

• interest
• ARP
• credit limit
• all of these

One of the 5 C's of credit that shows a person's willingness to pay is

• capital
• collateral
• character
• capacity

This is a fee that some, but not all, credit card issuers charge to use their credit card.

• APR
• annual fee
• monthly fee
• non-sufficient funds fee

The amount you must pay on a credit card, based on a percentage of the outstanding balance.

• minimum fee
• minimum payment
• monthly statement
• minimum monthly interest charge

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
• all of these

Which one is considered a danger of using a credit card

• no cash needed
• leads to overspending
• convenient
• earns rewards

A plastic card that you use to access a line of pre-established credit is called:

• debit card
• credit card
• visa
• mastercard

Your credit score is not configured off of which of the following:

• Payment history
• Amount owed
• Where you live
• Length of credit history

Tags

CCSS.7.NS.A.2C