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Credit and Debit Cards

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Francesca Feil

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2y ago
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Cards in this guide (8)
Why does a credit card make it easy to go into debt

You can buy something before you have enough money to pay for it.

Why is it important for people to maintain a good credit history

So that they have an easier time getting loans and credit cards

Which of these credit card features would be best for customers who want to pay off the balance on a high-interest credit card

Low fees for balance transfers

What is the annual percentage rate on a credit card

The Answer is "The amount of interest charged on unpaid balances" On Apex

Match each of these credit card terms with THE correct description

chadwick and the neutron

rutherford and the proton

thomson and the electron

Banks pay their costumers interest on the money in their accounts for what reason

Banks pay their consumers interest on their money in their accounts because, the same money is what the bank use to lend loans to other customers. As they are going to earn an income through the interest they charge the loan customers, banks give a portion of that interest as interest for the customers who have deposited their money with them.

Can you pay your credit card bill by another credit card

Yes you can pay your credit card bill by another credit card. It is called balance transfers, you can transfer the balance of another credit card that has a high interest to a credit card that has a low interest. Hopefully this answers your question.

Match each fee below with the situation where a credit card customer would get charged.

Potential Matches:1 : You use a new credit card to pay off the $2,000 you owe on another credit card.

2 : You use your credit card to take out $200 in cash from an ATM.

3 : You forget to send in your minimum monthly payment one month.

4 : You charge $800 on a credit card that has a $500 spending cap.

Answer : Balance transfer fee

: Cash advance fee

: Late payment fee

: Overlimit fee

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