• 1

  When you spend money on a credit card, you don't have to worry about it until your credit card balance is due.

       TRUE

       FALSE

  

• 2

  Spending money on a credit card can be dangerous

       TRUE

       FALSE

  

• 3

  If you don't spend anything else on your credit card except your existing balance, your interest amount will stay the same each month until you begin to pay off your balance.

       TRUE

       FALSE

  

• 4

  You don't need to know what your credit cards APR is.

       TRUE

       FALSE

  

• 5

  Interest rates charged by credit cards are generally pretty low.

       TRUE

       FALSE

  

• 6

  Compound interest means your outstanding balance grows quicker and quicker with each passing month.

       TRUE

       FALSE

  

• 7

  Banks will often approve you for a higher credit limit than you can afford.

       TRUE

       FALSE

  

• 8

  If you pay your minimum amount each month, your finances are under control.

       TRUE

       FALSE

  

• 9

  You should always try to avoid withdrawing cash with your credit card.

       TRUE

       FALSE

  

• 10

  Credit cards can help your credit score.

       TRUE

       FALSE

  

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