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Credit Card Quiz Flashcards | StudBud

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Credit Card Quiz

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Questions 10

Answers

1
what are the different types of credit cards?
debit cards
Multipurpose cards
single purpose cards
none of the above
2
Credit repair companies help you improve your credit
False
True
3
What is debt?
none of the above
something owed to another-an obligation to pay
free money
A percentage, to be paid back in addition to the original amount borrowed
4
credit cards are used to borrow money
False
True
5
what are single-purpose cards?
Money temporarily given to you in exchange for repayment with interest.
A fee for breaking the terms of an account or agreement
can be used to buy goods or services at the business that issued the card
bank credit cards
6
If you borrowed $900 and had a fixed interest rate of 12.5% you will only pay back $900
True
False
7
A visa card is a multipurpose card
False
True
8
what is credit
A business that will help you improve your credit score
An agreement to obtain money, goods, or services now for future payment
plastic cards that allow users to make purchase using borrowed money
A number
9
What can get you a penalty?
never borrowing money
paying on time
all of the above
not paying time
10
A 800 credit score is better than 700
True
False