Info
Credit is the most commonly used method of purchase in the United States.
True
If you do not use your credit card within a 12-month period, you do not have to pay the annual fee.
false
American Express Gold card
S tier card
Visa Signature, Capital One – No Hassle
Earn double miles on purchases, Fly on any airline, No blackout dates, Seat restrictions
annual percentage rate (APR)
rate of interest that is charged on a
balance that is carried over past the due date, a cash advance, or a balance transfer
from another credit card.
Early in the history of the United States, credit consisted of a store account with a local retailer, and interest was rarely charged.
false
The total dollar amount of all interest and fees you pay for the use of credit is called the
finance charge
Chase Freedom Flex Card
Capital one venture cards
you can earn rewards
grace period
allows you to avoid all finance charges if you pay your balance in full by the due date
Today, Americans use credit mainly for emergency spending needs.
False
A service available to charge customers whereby purchases are not billed until much later than the standard billing time is called
deferred billing
American Express business prime
B Tier
Capital one savor cash rewards card
credit terms and
conditions.
outline the costs associated with using
the credit card, and can vary widely among companies that issue credit cards.
It is illegal to use one credit card to pay another credit card.
false
If you go over your credit limit or make your payment late, you will likely be charged a(n)
penalty fee.
American Express Business cash card
C tier
Doordash rewards
Cashback on door dash orders
periodic finance charges,
The credit card user makes a payment by a due date for at least the
minimum amount given on the statement.
when your earnings exceed your expenses, you have the capacity to take on debt.
true
Your financial position is based on your
capital
Capital One Quicksilver
D tier
Why is it important to see credit card benefits.
You can find one that best helps you and your spending habits
adjusted balance method
subtracts payments and credits during this month
from the balance at the end of the previous month.