Credit Cards
What is an annual fee?
A fee charged every year for using certain credit cards
What is not the best way to solve your financial problems
accumulating debt
What is one of the most common forms of payment?
One of the most important things you can do for your cybersecurity
create unique passwords, used once
What is a Credit Score?
A number between 300 and 850 meant to show lenders how trustworthy you are. Your credit score is created based on your credit history.
What is the best purpose for keeping track of your money?
to make sure you do not spend more than you earn.
TRUE OR FALSE
A credit card requires you to enter your PIN when making a purchase.
FALSE
What is Phishing?
when scammers pretend to be someone that they aren’t to gather sensitive information or get access to a person’s funds through a credit card or bank account
What is a minimum payment?
The lowest amount you can pay back by a certain date in order to avoid fees
What is the approximate amount of debt that the average college graduate accrues?
$29,000
TRUE OR FALSE
A debit card loans you money each time you use it to buy things and pay for them later, which can cause you to go into debt
FALSE
TRUE OR FALSE
Hackers getting information about customers or employees could lead to scams or identity theft
TRUE
What is a grace period?
The amount of time you have to pay off what you’ve borrowed before interest starts to accrue
What is bait money?
Paper currency, usually kept from other currency in the cash drawer, for giving to a robber. The serial numbers of each bill is recorded.
What fee can you receive with a debit card
overdraft
What is malware?
When your device could be infected with a virus that steals your information or forces you to pay in order to get access to your files
TRUE OR FALSE
How you use credit will have a big impact on your life?
TRUE
you must write out a detailed _______ for accomplishing your goals. This begins with your budget
plan
what does ATM stand for
automated teller machine
If you’ve sent money to someone you believe is a scammer, it’s best to..
Cancel your cards and call your bank