Future Fridays: Credit Cards

The least amount that must be paid on a credit card each month is

• Late Fee

• Credit Limit

• Payment Amount

• Minimum Payment

How can a cardholder avoid paying interest on a credit card?

• Do not pay anything

• Pay the minimum payment after its due date

• Pay the balance in full every month

• Pay the minimum balance every month

FICO Scores are calculated from a lot of different credit data in your credit report and are scored from _____ to _____.

• 100 to 1600
• 300 to 850
• 1 to 36
• 1 to 2400

The cost of borrowing money is referred to as

• Credit Line

• Credit

• Annual Percentage Rate

• Interest

A PIN (Personal Identification Number). What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Small, hard, plastic card. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Interest may be charged, but can be avoided by paying the entire balance each month. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Each purchase is a loan that is repaid later. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Card can be used to purchase goods or services. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card