ScienceEconomicsEVERFI – PAYMENT TYPES QUIZ
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EVERFI - PAYMENT TYPES QUIZ

Veronica Edwards avatar Veronica Edwards
2 October 2022
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10 test answers

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