Credit Card Quiz 1

The ability to borrow money with the agreement to pay it back later.

• Credit Card
• Credit
• Credit Score
• Credit Karma

A three number rating that measures how well you pay your debts

• Credit Report

• Credit History

• Credit Rating

• Credit Score

What is one way to increase your credit score?

• Pay your mom back

• Buy groceries with your debit card

• Pay your credit card bill on time

• Not putting money on your debit card

APR stands for

• Another Payment Rate

• Annual Percentage Rate

• Automatic Payment Return

• Awesome Pork Rolls

There is NO limit on a credit card.

• True
• False

The amount that is set by a business on a credit card for use by the customer.

• Revolving Credit
• Limit
• Credit
• Loan

A fee charged for not making a payment on time is called

• Cash Advance Fee

• APR

• Annual Fee

• Late Fee

Credit Score range is 300 to ____________.

• 800
• 875
• 785
• 850

What is a poor credit score?

• 295
• 300
• 760
• 650

Interest is money charged to use money borrowed from a company.

• True
• False