Choose wisely. There is only one correct answer to each question.
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1.
Which of the following is not a factor in comparing credit cards?
None of the above. All are factors to be considered when comparison shopping for a credit card that best suits your needs.
2.
The more often you max out your credit card, the more likely the card will raise your credit limit for you.
False. Maxing out your card is bad for your credit rating. If you want to raise your credit limit, don't do that.
3.
Shopping for a good credit card deal is easy because there are only a few large organizations that offer credit cards.
False. There are thousands of banks, credit unions, and other organizations that offer credit cards.
4.
In credit card language, universal default means that _______.
If you make a late payment to a creditor, some other creditor can penalize you for it. When evaluating credit card offers, read the fine print to see if they do this, because not all cards do.
5.
When comparing credit cards that charge annual fees against cards that do not, the annual fee cards are a bad deal.
False. Though some may be a bad deal for you, others may offer features that are advantageous to you.