Test Drive – Credit Cards - PowerPoint Presentation

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Uploaded On 2017-06-25

Test Drive – Credit Cards - PPT Presentation

Face Off PLAY Question 1 What is the name of this Credit Card Surge Credit Card ANSWER Question 2 When is the payment due 71215 ANSWER Question 3 If ODP is used to cover a check how would it appear on the credit card statement ID: 563199

question credit card answer credit question answer card fees person false balance cards bill billing limit avoid interest paying time history 654

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Slide1

Test Drive – Credit CardsFace Off

PLAYSlide2

Question #1What is the name of this Credit Card?

Surge Credit Card

ANSWERSlide3

Question #2When is the payment due?

7/12/15

ANSWERSlide4

Question #3If ODP is used to cover a check, how would it appear on the credit card statement?

Cash Advance

ANSWERSlide5

Question #4What is the credit limit?

$1,000

ANSWERSlide6

Question #5When was the bill issued?

7/3/15

[Statement Date]

ANSWERSlide7

Question #6What is the current balance?

$654.50

[New Balance]

ANSWERSlide8

Question #7How much more can this person borrow without exceeding the credit limit?

$345.50

[Available Credit]

ANSWERSlide9

Question #8How much can this person pay on time to avoid fees, but not avoid interest?

$15

[Minimum Payment]

ANSWERSlide10

Question #9How much does this person have to pay ontime to avoid paying interest and fees?

$654.50

[New Balance]

ANSWERSlide11

Question #10What is the maximum amount each billing period this person should borrow to build his credit?

$300

[30% of the credit limit]

ANSWERSlide12

Question #11How much was charged in fees in the last billing cycle?

[Fees]

ANSWERSlide13

Question #12What are the consequences of paying a credit card bill late that are not noted on the credit card bill?

You can expect a number of consequences, such as, defaulting into the penalty APR rate, late fees, and an impact on credit history and credit score.

ANSWERSlide14

Question #13What was the most expensive new charge during the previous billing cycle?

$95.28 Shopping Mall

[Apparel/Gifts]

ANSWERSlide15

Question #14True or False: Credit cards are never a good idea to have.

False.

[Use for classroom discussion: If you use a credit card responsibly, you can use a credit card to build credit history, a credit score, and earn reward points.]

ANSWERSlide16

Question #15True or False: Credit cards are always a good idea to have.

False.

[Use for classroom discussion: Some people cannot use credit cards responsibly. They overspend, lose track of their balance, or cannot make payments on time.]

ANSWER