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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. Credit

2. Card And Have Not Accrued Interest Charges.

3. Capital

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

5. Account.

6. Periodic Rate

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

8. Credit History

9. Interest Rate

10. Credit Report

11. Truth In Lending Act

12. Finance Charge

13. Over-the-credit-line Fee

14. Collateral

15. 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.

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

17. Five C's Of Credit

18. Benefits

19. Grace Period

20. Character

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

22. Interest

23. Capacity

24. Annual Fee

25. 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

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