Understanding Credit Cards Vocabulary
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
---|---|---|---|---|---|
Annual fee | A yearly fee that may be charged for having a credit card
🗑
|
||||
Annual percentage rate (APR) | The cost of credit expressed as a yearly interest rate.
🗑
|
||||
Balance transfers | The act of transferring debt from one credit card account to another.
🗑
|
||||
Credit Card | A plastic card that you can use to access a line of credit that has been established in advance.
🗑
|
||||
Credit limit | The maximum dollar amount that can be borrowed
🗑
|
||||
Introductory rate | The APR charged during the credit card's introductory period after a credit card account is opened.
🗑
|
||||
Late payment fee | Fee charged when a credit card holder does not make the minimum monthly payment by the due date.
🗑
|
||||
Over-the-limit fee | fee charged if the credit card account balance goes over the set credit limit.
🗑
|
||||
Penalty APR | The interest rate charged on new transactions if the penalty terms in the credit card contract are triggered.
🗑
|
||||
Pre-approved | When someone has passed an initial credit history check.
🗑
|
||||
Returned payment fee | Fee charged if the cardholder makes a payment but does not have enough money in the account to cover the payment
🗑
|
||||
Schumer Box | Terms and fees of a credit card in an easy to read box on all credit card applications and solicitations.
🗑
|
||||
Variable-rate APR | An APR that may change depending on other factor.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
Tou Xiong
Popular Finance sets