The Disadvantages & Advantages of Credit Cards

1. According to the reading: What is the average number of credit cards held by card holders?

• 1

• 3

• 4

• 6

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2. According to the reading: Why are credit cards being used more often than in the past? (Check all that apply)

• They are convenient.

• They make you look rich and cool.

• They are safer than carrying cash.

• They allow people to buy things that they can not afford.

• They are easier to produce than in the past.

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3. According to the reading: What can credit cards do to your financial health?

• They will boost your financial health like a multivitamin.

• They have no affect on your financial health what so ever.

• They will help your financial health some days and hurt it others.

• They can place your financial health into serious jeopardy.

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4. According to the reading: Shortly, after you open a credit card what often occurs?

• You go broke.

• You buy a lot of stuff you don't need.

• You aren't able to pay any of your bills anymore.

• You get multiple offers to open other credit cards.

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5. According to the reading: Before you know it, what could easily happen with credit cards?

• You often find out you win a trip to Hawaii.

• A snowball effect in which you become buried deep in credit card debt.

• You become unbelievably happy because you can buy anything you want.

• Bill collectors start calling you all hours of the day.

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6. According to the reading: How much does the average household have in credit card debt?

• $12,000

• $7,500

• $16,000

• $25,000

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7. According to the reading: What does a credit card represent?

• A line of credit

• Free money

• A blackhole

• A chance to prove your fiscally responsible

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8. According to the reading: What is a credit line?

• A set amount of money that you must spend.

• A set amount of money that you are allowed to borrow.

• A set amount of money that a bank wants to give you.

• A set amount of money that you owe to the bank.

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9. According to the reading: With a credit card, what is the bank allowing you to do?

• The bank is allowing you to take money without paying it back.

• The bank is allowing you to borrow money each time you make a purchase.

• The bank is allowing you to deposit money for future purchases.

• The bank is allowing you to live your best life with its money.

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10. According to the reading: Is obtaining a credit card easy or difficult?

• Very easy

• Very difficult

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