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Personal Finance Myths
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Avg score: 75% • Most missed: “Over-the-credit-line Fee”
Personal Finance Myths
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25 Questions

1. Transferring The Whole Or Partial Balance Of One Credit Card To Another Credit Card. Balances Are Usually Transferred To A Card With A Lower Annual Percentage Rate.

2. If Payments Are Not Received By The Due Date Listed On The Statement - They Are Considered Past-due (Late) And Late Fee Charges May Be Added To The Bill. Late Payments May Show Up On Credit Reports And Numerous Late Payments Make Obtaining Additional Credit Difficult.

3. The Minimum Amount A Card Holder Must Pay Each Month. Most Card Issuers Require A Minimum

4. Capital

5. Truth In Lending Act

6. The Yearly Percentage Rate Of The Finance Charge. The Annual Percentage Rate May Be

7. Credit Report

8. Card And Have Not Accrued Interest Charges.

9. Character

10. Collateral

11. The Number Of Days Between The Last Statement Date And The Current Statement Date.

12. Interest

13. Finance Charge

14. Interest Rate

15. Grace Period

16. Over-the-credit-line Fee

17. Account.

18. A Low Interest Rate That Is Offered For A Limited Time As An Incentive.

19. Annual Fee

20. Five C's Of Credit

21. Obtaining Cash With The Card Instead Of Using The Card To Make A Purchase. The "Grace Period" Does Not Apply To Cash Advances. An Instant Loan - And Finance Charges Will Be Applied On This Money From The Time

22. Benefits

23. Balance Is Not Paid Off Each Month.

24. Credit

25. Capacity

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