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Personal Finance Courses: Credit

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1.
If you have bad credit and receive a credit card offer tailored to those with bad credit, what can you expect the interest rate to be like?
Choose wisely. There is only one correct answer.
Very high. Because you are deemed a risk, your interest rate would be quite high.
2.
It is possible to use a credit card to earn more than you pay on it.
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True. You can earn rewards while paying your balance in full each month and avoiding fees.
3.
What is the name for the credit card fee that is charged to you when you take money out of your card?
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Cash advance fee. This fee is charged for cash advances made on your card.
4.
Which of the following is probably the wisest use of credit?
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Pay off higher-interest loans before lower-interest loans.
5.
Which of the following is the largest part of your FICO score?
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Payment history. Your payment history carries more weight than any other measure.
6.
An example of revolving credit is _______.
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A credit card agreement. Credit card agreements are an example of revolving credit.
7.
During what hours does the law allow debt collection agencies to call you?
Choose wisely. There is only one correct answer.
Collection agencies may call only at reasonable times. The law says that calls before 8 a.m. or after 9 p.m. are unreasonable.