Credit Cards and Loans Test review

A credit card does not have to be paid back.

• True
• False

A loan does not have to be paid back.

• True
• False

A debit card does not have to be paid back.

• True
• False

Paying the minimum on a loan is the best way to pay off the loan quickly.

• True
• False

Using a credit card to complete all of your purchases is a smart financial plan.

• True
• False

Your debit card is money that is given to you in a loan.

• True
• False

Your checking account and debit card take money out of the same account.

• True
• False

A credit card is money that you have earned and is deposited from your place of employment.

• True
• False

Your credit history does not affect your ability to get a loan in the future.

• True
• False

Having a good credit history will help to lower your interest rates for future loans.

• True
• False