Which payment type is best if you are trying to stick to a budget?
Debit Card
Which of the following statements comparing debit cards to credit cards is TRUE?
A: Debit cards allow you to draaw funds direct;y from your checking account
B: Debit cards typically offer greater fraud protection than credit cards
C: Debit cards never require a signature to finalize a purchase like credit cards
D: Debit cards charge higher interest rates on purchases than credit cards
A
The amount of money you can charge to a credit card is called:
Credit Limit
Which of the following are true if you pay only the minimun amount each month towards your credit card bill?
Your Annual Percentage Rate will increase.
Which of the following is true of both paying with a check and paying with a debit card?
When used, both take money directly out of a bank account
1) Which of the following payment types require you to pay upfront?
Money orders & pre-paid cards
2) Which of the following statements are TRUE about credit cards? I. When you use a credit card, the money comes directly out of your account. II. Credit cards typically offer more fraud protection than debit cards. III. Transactions made with a credit card can impact your credit score.
Statements II & III
3) All of the following are fees typically charged by credit card companies EXCEPT:
Reload fee
4) Which of the following statements about minimum payments is INCORRECT?
If you send in the minimum payment, you will be charged a late fee.
1 Which of the following payment types require you to pay upfront?
All of the above
2 Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month?
APR
What is the amount of money you still owe to their credit card company called?
Credit Card Balance
Which of the following can increase your credit card’s APR?
Paying the minimum
Which of the following is NOT true of credit cards?
They are the best payment type to use when trying to stick to a budget.
If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for?
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