Credit Card Knowledge and Financial Literacy Quiz

What does APR stand for?

• Annual Payment Reduction
• Automated Payment Requirement
• Average Payment Ratio
• Annual Percentage Rate

Which factor has the MOST significant impact on your credit score?

• Total income
• Number of credit cards
• Credit card balance
• Payment history

What is the recommended credit utilization ratio?

• Below 10%
• Below 70%
• Below 50%
• Below 30%

What happens if you only make minimum payments on a credit card?

• You'll pay off debt quickly
• It will take much longer to pay off the balance
• You'll save money on interest
• Your credit score will immediately improve

Compound interest means:

• Interest rates remain constant
• Interest is calculated only on the principal
• Interest is calculated on both principal and previously accumulated interest
• You pay less interest over time

What is a credit score range in Thailand?

• 0-300
• 500-1000
• 300-850
• 100-700

Which credit card feature typically offers the most financial benefit?

• Bonus points
• Travel insurance
• Airline miles
• Cash back

What does a 'grace period' mean on a credit card?

• Extra time to make a payment without penalty
• A delay in payment processing
• A period where no interest is charged if full balance is paid
• A temporary credit limit increase

What is the primary risk of making only minimum payments?

• Reduced credit limit
• Immediate credit score drop
• Bank will close your account
• Accumulating significant interest over time

Which action can help improve your credit score?

• Maxing out credit limits
• Applying for multiple credit cards
• Consistently paying bills on time
• Closing old credit card accounts