Credit Cards Woodbridge High School 2017

The cost of credit, expressed as a yearly rate

The maximum amount allowed to be charged to your account

The interest rate that might be charged right after the account is opened.

What usually happens when a late payment is made?

What is charged if the account balance goes over the credit limit?

The interest rate charged on new transactions if the penalty terms are triggered

Type of bankruptcy when a repayment plan is required.

The fee charged when a cardholder does not make the minimum monthly payment on time

Which of the following is a disadvantage to using a credit card?

How do you avoid paying interest on a credit card?

What does APR stand for?

The maximum amount your a liable for if you card is used fraudulently:

Transferring debt from one credit card to another is called a:

Type of bankruptcy where all debts (except govt loans or taxes) are forgiven

An interest rate that may change, depending on other factors.

The smallest amount that you are required to pay on a credit card:

What debt is not forgiven in a bankruptcy?

What is the purpose of a Schumer box?

What is NOT part of the CARD Act of 2009?

Requires creditors give terms & conditions (APR & finance charges) & limits liability to $50

Why did the chicken cross the road?

A yearly fee that may be charged for having a credit card.

Which of the following is an advantage to using a credit card?

Which of the following is NOT a positive credit card behavior?

Random trivia: Which of the following statements is true:

The amount of days a cardholder has to make a payment without penalties.