Credit Card Vocab
Authored by Courtney Murdoch
Mathematics
11th - 12th Grade
CCSS covered
Used 36+ times
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18 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Credit Card
allows the user to directly withdraw from the checking account for the purchase.
allows the user to charge for the purchase now and pay later
the maximum amount of credit the cardholder is allowed to borrow or owe; sometimes known as Credit Line.
the yearly interest rate at which the debt is charged.
2.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Debit Card
allows the user to directly withdraw from the checking account for the purchase.
allows the user to charge for the purchase now and pay later
the maximum amount of credit the cardholder is allowed to borrow or owe; sometimes known as Credit Line.
the yearly interest rate at which the debt is charged.
same as a credit card but can only be used at the specific retailer who offers the credit.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Credit Limit
allows the user to directly withdraw from the checking account for the purchase.
allows the user to charge for the purchase now and pay later
the maximum amount of credit the cardholder is allowed to borrow or owe; sometimes known as Credit Line.
the yearly interest rate at which the debt is charged.
same as a credit card but can only be used at the specific retailer who offers the credit.
4.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Annual Percentage Rate (APR)
allows the user to directly withdraw from the checking account for the purchase.
allows the user to charge for the purchase now and pay later
the maximum amount of credit the cardholder is allowed to borrow or owe; sometimes known as Credit Line.
the yearly interest rate at which the debt is charged.
same as a credit card but can only be used at the specific retailer who offers the credit.
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Retail Credit Card
allows the user to directly withdraw from the checking account for the purchase.
allows the user to charge for the purchase now and pay later
the maximum amount of credit the cardholder is allowed to borrow or owe; sometimes known as Credit Line.
the yearly interest rate at which the debt is charged.
same as a credit card but can only be used at the specific retailer who offers the credit.
6.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Promotional Period
the amount of interest owed but will be forgiven if the amount of purchase on the debt is paid in full by the time the promotional period ends.
the accumulated interest owed on the debt since the purchase was made.
same as Credit Limit.
the time period when no interest is charged on the purchased; exist on all credit cards, not a special offer.
the time period when no interest is charged on the purchase if the debt on the purchase is paid by the end of the promo period; exists only as the retailer’s special offer.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
7.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Deferred Interest
the amount of interest owed but will be forgiven if the amount of purchase on the debt is paid in full by the time the promotional period ends.
the accumulated interest owed on the debt since the purchase was made.
same as Credit Limit.
the time period when no interest is charged on the purchased; exist on all credit cards, not a special offer.
the time period when no interest is charged on the purchase if the debt on the purchase is paid by the end of the promo period; exists only as the retailer’s special offer.
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