What do you know about wise credit card use?
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Question 1 of 8
1. Question1 points
How can you use credit cards to build up your credit score?Correct
Question 2 of 8
2. Question1 points
What qualities should you look for when choosing a credit card?Correct
Interest rates, fees, and rewards are all important when choosing a credit card, but the most important quality is a low interest rate that you can afford.Incorrect
Question 3 of 8
3. Question1 points
You have as long as you want to pay off a credit card balance.Correct
All credit cards require you to make at least monthly minimum payment on any balance you owe. Paying less than the minimum can result in fees or a higher interest rate.Incorrect
Question 4 of 8
4. Question1 points
What is a grace period?Correct
Many cards give you about 30 days grace to pay your balance without charging interest. Cards that do not have a grace period start charging interest from the moment you make your purchase.Incorrect
Question 5 of 8
5. Question1 points
A credit card cash advance usually has a grace period.Correct
Credit card companies typically charge interest on cash advances from the moment you take out the cash. Cash advances typically have a higher interest rate than normal purchases.Incorrect
Question 6 of 8
6. Question1 points
What’s the best way to use a credit card?Correct
Question 7 of 8
7. Question1 points
What is a prepaid credit card?Correct
A prepaid credit card works like a normal credit card, except that the balance is paid upfront and you can’t go over the limit. Prepaid cards are good for people learning to use credit or for people who have trouble sticking to a budget.Incorrect
Question 8 of 8
8. Question1 points
How should you protect yourself when using credit cards?Correct