Test 4 - Credit and Credit Cards.

Please read each statement carefully, then indicate if it is "True" or "False". When done, click on the button "Check Answers".

 

1. Credit card debt is perhaps the largest reason why so many of us go into debt every day because we have begun to use our credit for everything.

True  False
 

2. You should have as many credit cards as possible to increase your credit.

True False

 

3. Avoid making any purchases with your credit during peak buying seasons such as Christmas.

True False

 

4. Credit card companies do not charge you more interest during the holiday seasons because they know that everyone is buying more items with their credit cards.

True False

 

5. Use cash there is no real reason why you should be using your credit card to make daily purchases like groceries.

True False

 

6. If you cannot control your credit card spending then we may have to opt for the most difficult step of all, putting our credit cards on ice for a while.

True False

 

7. Banks do not charge annual fees for their credit cards.

True False

 

8. Credit card companies will not negotiate with you in hard times.

True False

 

9. Employers do not have the legal right to check out your credit before offering you work.

True False

 

10. Consumers with a poor credit rating may have to pay more for the insurance coverage.

True False

 

11. Consumers with good or very good credit will hardly notice any difference in their credit rating, even after applying for one or more credit products.

True False

 

12. You need to have a loss protection program for your credit card.

True False

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