Personal Finance

:P

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1. What is a charge card?

  • A charge card is used for making payments in a similar way to a credit card, except that you don't have to repay all the balance until 60 days after receiving the statement.
  • A charge card is used for making payments in a similar way to a credit card, except that you MUST repay the balance in full when the statement arrives.
  • A charge card is used for making payments in a similar way to a credit card, except that you MUST repay the balance 30 days after reciving the statement.
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2. What are the advantages of using a store card?

  • You gain points for buying items from that shop.
  • You may qualify for discounts in the shop that issued the card.
  • You may purchase things from that shop free of charge.

3. What do credit cards do?

  • Allow you to borrow money to buy things and pay back over a period of your choice.
  • Allow you to borrow money to buy things and pay back straight away.
  • Allow you to get cash back when you pay for goods in shops that offer 'cashbacks'

4. What is a repayment?

  • A statement received every month detailing what you have spent and what you owe the credit card company, and how you can then decide how to repay.
  • Money given to someone bigger than you.
  • A statement detailing overseas transactions and repayment details.

5. Do credit cards have expiry dates?

  • Yes.
  • No.
  • Maybe?
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Comments

MostlyHarmless

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Good revision for a small section of the personal finance exam. A little short though and some of the options are a bit ridiculous XD. Just hope it sticks until later this week :/

BigBobsBob

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you are a stupid and a fat boy

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