What is one of the main reasons the credit card industry is highly profitable?

Understanding the Credit Card Industry

Interactive Video
•
Business, Social Studies
•
10th - 12th Grade
•
Hard

Ethan Morris
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
High interest rates and fees
Exclusive partnerships with retailers
Low operational costs
Government subsidies
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the impact of the Marquette decision on the credit card industry?
It limited the interest rates banks could charge.
It mandated consumer protection laws.
It allowed banks to charge interest rates across state lines.
It introduced a cap on credit card fees.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who are considered 'deadbeats' in the credit card industry?
Customers who frequently apply for new credit cards
Customers who pay off their balance in full each month
Customers who only make minimum payments
Customers who default on their payments
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a 'revolver' in the context of credit card usage?
A customer who pays off their balance in full
A customer who carries a balance and pays interest
A customer who uses credit cards for cash advances
A customer who frequently switches credit cards
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of the OCC in the credit card industry?
To provide loans to credit card companies
To manage consumer credit scores
To regulate national banks and ensure fair practices
To set interest rates for all banks
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'universal default' in credit card terms?
A penalty for missing a payment on any account
A reward for paying off credit card balances
A standard interest rate for all customers
A fee for exceeding the credit limit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common feature of credit card contracts that can change without consumer consent?
Interest rate
Credit limit
Reward points
Annual fee
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