Name It
What is the name of the business where this credit card is used?
Off the Rack
What is the new balance on this credit card statement?
$190.73
What is the total of in-store and online purchases on this statement?
What is the minimum payment due on this bill?
$40.00
What is one of the two ways you can contact Off the Rack Credit Services if you have a question about your bill?
(1) Mail a letter
(2) Make a phone call
Who is the card holder of this account?
Juanita S. Alvarez
What is the credit limit on this account?
$500.00
What is the difference between last month's payment and this month's minimum payment?
$35.00 ($75.00-$40.00)
What is the "Minimum Payment Warning"?
If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance.
What is one of the two most important pieces of information on a credit card statement.
(1) New Balance (how much you owe)
(2) Payment Due Date
What is this document called?
An Account Statement (Credit Card Bill)
How many days are in this billing cycle?
30
If the cardholder had a new balance of $250 what would the available credit be?
$250 ($500 - $250)
Why is there a dotted line and a picture of a pair of scissors on this statement?
"Please detach this portion and return with your payment to insure property credit. Retain upper portion for your records."
What does the new balance on a credit card statement include?
Purchases, interest, late fees, etc.
If you pay by check, who do you make the check payable to? Give the complete answer.
Off the Rack Credit Credit Services
What is the late fee if the minimum payment is not made by the due date?
$35.00
If this cardholder was late on every monthly payment for an entire year, how much would she pay in late fees?
$420 ($35 x 12)
What can the cardholder do if they want information about credit counseling services?
Call 1-877-337-8187
How was the available credit of $309.27 on this statement calculated?
Start with the credit limit of $500 and subtract the new balance owed of $190.73. $500.00-$190.73=$309.27
What term describes how much the cardholder can borrow on this account?
Credit Limit
If no more charges are made and the cardholder pays the minimum amount each month, how soon will this bill be paid off?
6 Months
If the cardholder made no more purchases and failed to make her monthly payment on time, approximately how much would she owe on the next statement?
Approx. $228.22 ($190.73 current balance + $35 late fee + $2.49 interest)
How many times does the due date appear on this print out?
Twice (top and bottom)
Does it look like the cardholder made at least the minimum payment last month?
Yes. (There was a previous balance of $238.41 and she paid $75. This month she has a balance of $190.73 and the minimum payment is only $40.)