Page 1 of 9 What is the primary risk associated with consistently making only the minimum payment on a credit card balance? A. It automatically lowers your credit limit each month you do it B. All earned cash back and rewards for that month are forfeited. C. It can lead to paying a significant amount in interest over many years. Page 2 of 9 The guide suggests the 'Avalanche Method' for paying off debt. How does this strategy work? A. You pay an equal extra amount towards all outstanding credit card debts each month. B. You focus on paying off the credit card with the smallest balance first to build momentum. C. You prioritize paying off the credit card with the highest interest rate (APR) first. Page 3 of 9 What is the primary function of a credit card's 'grace period'? A. It is the period after missing a payment before a late fee is charged. C. It is a promotional period where the APR is set to 0% for new cardholders. C. It is the time between your statement date and due date to pay the balance without interest. Page 4 of 9 According to the guide, what does the term 'Credit Utilization' measure? A. The percentage of your available credit that you are currently using. B.It automatically lowers your credit limit each month you do it. C. All earned cash back and rewards for that month are forfeited. Page 5 of 9 The 'Avalanche Method' for paying off credit card debt prioritizes which type of debt first? A. The debt with the largest total balance. B. The debt with the smallest balance. C. The debt with the highest Annual Percentage Rate (APR). Page 6 of 9 Which of the following is described in the guide as a smart credit-building tactic? A. Always keeping your credit utilization above 30% to show lenders you use credit. B. Using one credit card to make a payment on another credit card. C. Becoming an authorized user on a family member's well-managed account. Page 7 of 9 The guide warns against 'lifestyle inflation' as a behavioral risk. What does this term refer to? A. Using a credit card exclusively to pay for high-end or luxury goods. B. The habit of living beyond one's means due to the easy access to credit. C. The process of transferring a balance to a card with a higher credit limit. Page 8 of 9 Why is using a credit card for a cash advance considered a 'Red Flag' to avoid? A. It is not protected against fraud like regular purchases are. B. The amount is immediately and permanently deducted from your credit limit C. It can signal financial distress and often comes with immediate, high interest. Page 9 of 9 What core difference distinguishes a credit card from a debit card? A. A credit card uses a line of credit, while a debit card uses funds from your bank account. B. Credit cards can be used for online shopping, while debit cards cannot. C. Credit cards offer fraud protection, but debit cards do not. Please provide your contact information to proceed.Email Address *First Name *Consent *Yes, I agree with the privacy policy and terms and conditions.Start Quiz credit_card_quiz_posterتنزيل علق بإستخدام الفيسبوك تصفّح المقالات 💔 الثراء السريع: قصة ليلى 💔
