EVERFI - PAYMENT TYPES QUIZ

Which of the following is true?

Checks and Debit Cards both withdraw money directly from a bank account

The amount of money you can charge to a credit card is called:

Credit Limit

Which payment method typically charges the highest interest rates?

Payday loans

What is a credit card balance?

The amount of money you still owe to the credit card company

The annual percentage rate on a credit card determines _______.

the amount of interest you are charged on credit card purchases

Which payment type can help you stick to a budget?

Debit Cards

Which of the following statements comparing debit cards to credit cards is TRUE?

Debit cards allow you to draw funds directly from your checking account

If you are planning to carry a large balance on your credit card, which of the following credit card features should you look for?

Low APR

Making a credit card minimum payment:

Means you are paying a small portion of your total credit card debt

Which of the following is NOT a common credit card fee?

Minimum payment fee