Credit Card Basics
Credit Key terms
2000s
Credit Score
That's SO Random
100
What is a credit card?
A line of credit (also known as a loan) that you access with your card
100
What does 'minimum payment' mean on my credit card bill?
The LOWEST amount you need to pay to keep your account in ‘good standing’
100
Who was the star of the first Pirates of the Caribbean movie released in 2003?
Johnny Depp
100
What is a credit score?
A number that is assigned to you that represents how well you manage your credit (loans or borrowed money)
100
What are the three primary colors?
Yellow, Red, and Blue
200
How old must someone be to get a credit card?
19!
In BC, a person must be 19 years of age to open a credit card in their own name.
200
What does 'Interest' mean?
The price (%) that you pay for borrowing money from the credit card company
200
In the video game released in 2009 named Angry Birds, what color are the pigs?
Green!
200
True or False: You start with a perfect credit score
FALSE
You don’t start with a perfect credit score... you must build it up!
200
What food is red, round, and considered both a vegetable and fruit?
Tomato
300
Name 1 benefit of a credit card
- Build your credit score
- Emergency access to funds
- Convenience (online purchases, put a hold on a hotel room/rental car)
- Collect rewards/points
300
Should I just keep paying the 'minimum payment'?
No!
Just because you can pay the minimum payment, doesn’t mean you should. Remember, any outstanding amount that you owe will be rolled over to next months bill, and you will be charged interest. If you are able to, try to pay more than the minimum.
300
In 2005, which online video streaming platform was launched?
YouTube
300
What is one way that I can build up my credit score?
Pay your debts on time and in full whenever possible!
300
What is the name of the dragon in "Mulan"?
Mushu
400
What are the two types of credit cards?
Bank-Issued & Store-Issued
400
If I pay my credit card bill in full and on time, how much interest do I pay?
You pay NO interest!
If you pay your credit card bill in full and on time, you pay no interest. You only have to pay for what you purchased (YAY!)
400
What Canadian rock singer had a breakout hit with her song “Complicated" in 2002?
HINT: She was known for wearing ties and cargo pants.
Avril Lavigne
400
True or False: It is better to have a higher credit score.
TRUE!
The the higher your credit score, the better chance you have of getting a loan or credit card.
400
How many continents are there?
Seven!
Asia, Africa, Europe, North America, South America, Australia/Oceania, Antarctica
500
True or False: If my friend uses my credit card, it won't affect my credit score.
FALSE! If your credit card is in your name, the payments and purchases will reflect your score, regardless if you use the card or your friend.
500
Standard credit card interest rate is:
A) 5-8%
B) 60-80%
C) 18-20%
C) 18-20%
500
What was the name of the first movie that was released in the MCU in 2008?
Iron Man
500
In Canada, what is the average credit score?
650
500
Which planet in our solar system is known as the "Red Planet"?
Mars
