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Credit Card Vocabulary Flashcards | StudBud

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Credit Card Vocabulary

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#Financial Literacy - Credit Card Vocabulary

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Questions 10

Answers

1
What is a credit card Balance Transfer?
Cancelling all your credit cards
More than one credit card.
Take stock of your debt.
Combination of all your credit cards, put into one payment.
2
What is a Credit Report?
Financial History
Income Statement
Balance Sheet
Dating History
3
What is an annual fee?
Fee that is charged bi-weekly.
Fee that is charged on annually (yearly).
Fee that is charged monthly.
Fee that is charged semi-annually.
4
APR stands for what?
Annual Percentage Rate
Always Prep Regularly
Annual Project Resource
Annual Percentage Rotation
5
T or F A credit score of 350 is excellent
True
False
6
What is credit?
Buy NOW - Pay LATER
Both Answers are correct
Neither Answers are correct
Buy LATER - Pay NOW
7
What is a "Finance Charge"?
An investment strategy.
An item which has value.
Any fee representing the cost of credit.
Agency that insures deposits.
8
What is a "Grace Period"?
Period during which interest is charged.
Period during which annual fee is NOT charged.
Period during which NO interest is charged.
Period during which a annual fee is charged.
9
What is a Pay Day Lender?
Lends small amounts of money at high interest rates.
Lends large amounts of money at low interest rates.
Lends large amounts of money at high interest rates.
Lends small amounts of money at low interest rates.
10
When searching for the perfect credit card, you should look for what?
Finance Charge
All the Above
APR
Annual Fees