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.
When shopping for a credit card, you should evaluate several cards because ________.
Their interest rates, fees, and other features differ. The knowledgeable credit card user can score great deals this way.
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.
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.
5.
When comparing credit cards, the annual percentage rate (APR) is more important if you don't pay your bill in full each month.
True. The APR is the interest rate you will pay on any balance outstanding on your credit card each month. A lower APR can result in substantial savings.