Credit Cards

Which term represents interest and all other fees added on to credit puchases?

• annual fee

• annual percentage rate

• introductory rate

• finance charges

Which fee will you pay if you go over your credit limit?

• minimum payment fee

• over-the-limit fee

• introductory rate

• grace period

A three digit number rating a consumer as a credit risk. It measures your creditworthiness.

• Credit Score

• Finance Charges

• Revolving Credit

• Debit Card

The annual interest rate you will be charged if you carry a balance on your credit card.

• Credit Agency

• Debit Card

• Credit Limit

• Annual Percentage Rate

Money borrowed to buy something now with the understanding that the money will be paid back in the future.

• Finance Charges

• Credit

• Debit

• Credit Agency

Having good credit means you are a low-risk borrower.

• True

• False

A credit score is also known as a FICO score

• True

• False

Applying for many credit cards at the same time will improve your credit score.

• True

• False

Once your credit score is calculated, there is nothing you can do to change it.

• True

• False

Your credit score might be slightly different because different agencies use different formulas to create credit scores.

• True

• False