100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
module 6 review & understanding credit cards questions and answers 100- correct £14.72   Add to cart
Quickly navigate to
Preview
  2.  
  3. Foolproof
  4.  
  5. Foolproof

Exam (elaborations)

module 6 review & understanding credit cards questions and answers 100- correct
 50 views  0 purchase
  • Module
  • Foolproof
  • Institution
  • Foolproof

module 6 review & understanding credit cards questions and answers 100- correct Which of these choices shows the smartest thinking? A I use my credit card very carefully and I always pay my credit card bill the minute I get it. B I use my credit card very carefully and I always pay my credit c...

[Show more]

Preview 2 out of 9  pages

Document information

  • September 11, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • module 6 review understanding credit cards quest
  • which of these choices shows the smartest thinking
  • why do you think that we named this module sucker
  • which answer defines a credit cards grace period

Written for

  • Foolproof
  • Foolproof

Seller

avatar-seller
julianah420

Reviews received

Content preview

module 6 review & understanding credit
cards questions and answers 100%
correct

Which of these choices shows the smartest thinking?

A I use my credit card very carefully and I always pay my credit card bill the minute I get
it.
B I use my credit card very carefully and I always pay my credit card bill the day it is
due.
C I use my credit card for impulse shopping.
D I use my credit card to help my friends buy stuff they cannot afford. - answerA I use
my credit card very carefully and I always pay my credit card bill the minute I get it.

Why do you think that we named this module "Sucker Punch"? Choose the one best
answer.

A Because we're big boxing fans.
B Because we want to protect you from getting hurt.
C Because we want you to be aware that credit cards can be as painful as an
unexpected punch in the stomach. Most credit card companies are out for themselves -
they're not really looking out for you. This means that you have to be on the alert for
sucker punches when you apply for and use a credit card.
D Because we all can be hit by a sucker punch in life. - answerC. Because we want you
to be aware that credit cards can be as painful as an unexpected punch in the stomach.
Most credit card companies are out for themselves - they're not really looking out for
you. This means that you have to be on the alert for sucker punches when you apply for
and use a credit card.

Which answer defines a credit card's "grace period"?

A If I pay off my entire credit card bill before the grace period ends, I don't have to pay
interest on the money I've borrowed from the credit card company every time I've
charged something.
B If my payment isn't credited before this date, my payment will be late.
C A credit card's grace period is a very expensive way to borrow money.
D If I act "gracefully" when I pay my bill I will not be charged interest on my credit card. -
answerA If I pay off my entire credit card bill before the grace period ends, I don't have
to pay interest on the money I've borrowed from the credit card company every time I've
charged something.

, Which answer best describes a credit card?

A A credit card is a cheap way to borrow money.
B A credit card is a convenient way to pay for things sometimes and also allows you to
spend like you're a millionaire.
C A credit card is a very expensive way to borrow money.
D A credit card gives you unlimited spending. - answerC A credit card is a very
expensive way to borrow money.

Which of these choices shows the smartest thinking?

A I always use my credit card to finance purchases.
B I use my credit card to build my credit and for convenience. But I try to never finance
purchases with it. If I really do need to finance an important purchase, I go to my credit
union or bank and try to get a loan that is much cheaper than financing on my credit
card.
C I use my credit card to finance my vacations and pay for the vacation monthly.
D I use my credit card when I really want something, even though I don't need it, and
am short of cash. - answerB I use my credit card to build my credit and for convenience.
But I try to never finance purchases with it. If I really do need to finance an important
purchase, I go to my credit union or bank and try to get a loan that is much cheaper
than financing on my credit card.

With a debit or ATM card, you are spending your own money. With a credit card, you
are always borrowing money.

True
False - answerTrue

Select the correct statement:
A I should never, ever, be late on a credit card payment.
B I should always try to pay off my credit card bill in full each month. C If I can't pay my
credit card balance off in full each month, I should pay as much as I can.
D All of the above. - answerD All of the above.

What should I do if I cannot pay off my credit card bill in full?

A I should get a cash advance on another credit card and pay the bill.
B I should stop using my credit card until I can pay off the bill.
C What's to worry about? I'm going to charge just a little bit more and worry about it next
month.
D None of the above. - answerB I should stop using my credit card until I can pay off the
bill.

Which defines a "credit limit"?

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £14.72. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67474 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£14.72
  • (0)
  Add to cart