EVERFI – PAYMENT TYPES QUIZ
| 1. | The amount of money you can charge to a credit card is called: | Credit Limit | |
| 2. | The annual percentage rate on a credit card determines _______. | the amount of interest you are charged on credit card purchases | |
| 3. | If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for? | Low APR | |
| 4. | Making a credit card minimum payment: | Means you are paying a small portion of your total credit card debt | |
| 5. | What is a credit card balance? | The amount of money you still owe to the credit card company | |
| 6. | Which of the following is NOT a common credit card fee? | Minimum payment fee | |
| 7. | Which of the following is true? | Checks and Debit Cards both withdraw money directly from a bank account | |
| 8. | Which of the following statements comparing debit cards to credit cards is TRUE? | Debit cards allow you to draw funds directly from your checking account | |
| 9. | Which payment method typically charges the highest interest rates? | Payday loans | |
| 10. | Which payment type can help you stick to a budget? | Debit Cards |
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