Question

question 5
you pay off your full credit card bill every month. should you ever borrow up to your credit limit? choose the best answer.
oa sure. thats why they gave it to me.
smart people never borrow more than 80% percent of their credit limit,
ob
even if they are paying off their credit card bill in full each month.
oc sure! i can always pay it off later when i get the money.
od yep. because that is what all my friends do and they have cool stuff.
question 6
which answer best describes a credit card?
oa a credit card is a cheap way to borrow money.
a credit card is a convenient way to pay for things sometimes and also
ob
allows you to spend like youre a millionaire.
oc a credit card is a very expensive way to borrow money.
od a credit card gives you unlimited spending.
question 7
many credit card companies wont tell you your interest rate or tell you your
credit limit until after they have issued you their credit card.
o true.
o false.
question 8
which answer defines a credit cards \grace period\?
if i pay off my entire credit card bill before the grace period ends, i dont
oa
have to pay interest on the money ive borrowed from the credit card
company every time ive charged something
save and quit ent isnt credited before this date, my payment will be late.

Explanation:

For Q5, borrowing close to limit can affect credit score. For Q6, credit - card borrowing is costly. For Q7, companies disclose terms upfront. For Q8, grace - period is interest - free if paid in full.

Answer:

Question 5: B. Smart people never borrow more than 80% percent of their credit limit, even if they are paying off their credit card bill in full each month.
Question 6: C. A credit card is a very expensive way to borrow money.
Question 7: False
Question 8: A. If I pay off my entire credit card bill before the grace period ends, I don't have to pay interest on the money I've borrowed from the credit card company every time I've charged something.