ChargeIt

Quiz

Note

If you receive less than 3 questions right, you might want to review the Cards section.

Please select one of the following options for the questions below.

1. If you fail to make one payment on any card or bill your APR can shoot up under this fee.

Universal Default

Annual Fee

Late Fee

ATM Fee

2. Which of the following is defined as a cash advance?

Convenience Checks

Collateral

Balance Transfers

Deposits

3. Spending more than your credit card allows would cause a(n) ________.

over the limit fee

ATM fee

late fee

user fee

4. Just last year card companies took in over how much in fees?

S2 Billion

S5 Billion

$13 Billion

$20 Billion

5. Which of the following is not true about Introductory Terms?

These are often used as a marketing tool

Missing one payment can make them go away

They are only given out to people with poor credit

All the small fine-print details matter

6. What is not important to look for in an Introductory Term?

How long does it last?

What are the rates after the introductory period ends?

Is the introductory term beneficial?

Do the small details hide any important rules?

7. This balance calculation is the total balance starting from the beginning of the billing period divided by the number of days in the period.

Previous Balance

Two Cycle Average Daily Balance

Adjusted Balance

Average Daily Balance

8. Takes into account the average balance from the current period and the last.

Previous Balance

Two Cycle Average Daily Balance

Adjusted Balance

Average Daily Balance

9. The amount of time a card company will give before charging you interest.

Limited Period

Collateral

Grace Period

Average Daily Balance

10. Issued by a bank or money handling company for a specified amount of cash.

Fee Statement

Money Order

Convenience Checks

Credit Reports