| A | B |
|---|
| Transferring debt from one credit card to another | balance transfers |
| Charged if the account balance goes over the credit limit | over the limit fee |
| The maximum amount of charges allowed to an account | credit limit |
| The cost of credit expressed as a yearly interest rate | annual percentage rate (apr) |
| The interest rate that may be charged right after a credit card account is opened | introductory rate |
| An interest rate that may change depending on other factors, such as the prime rate | variable-rate apr |
| A yearly fee that may be charged for having a credit card | annual fee |
| Charged when a cardholder does not make the minimum monthly payment by the due date | late-payment fee |
| The interest rate charged on new transactions if the penalty terms in the credit card contract are triggered | penalty apr |
| Is a 13% or 18% APR for a credit card better? | 13% |
| How can a consumer avoid paying interest on a credit card? | Pay the monthly balance off in full |
| True or False? Credit card applicants will always be accepted for the card they apply for, but they may have to pay a higher interest rate. | False |
| True or False? People under the age of 21 can never receive a credit card. | False |
| True or False? An individual’s liability for unauthorized credit card charges is much higher than an individual’s liability for unauthorized debit card purchases, regardless of when the fraud is reported. | False |
| True or False? It is better to use a debit card rather than a credit card when purchasing items online. | False |
