Experts recommend utilizing only about ____% of your total credit card limit.
A.
10%
B.
30%
C.
50%
D.
75%
2.
When shopping for a credit card, it’s important to consider the following:
A.
Rates
B.
Terms
C.
Reward options
D.
All of the above
3.
Because credit bureaus take into consideration how long you’ve had an open line of credit, it’s important to:
A.
Never open more than one credit card.
B.
Close old credit cards when you apply for new ones.
C.
Keep your first credit card open, even after you get new ones.
D.
Credit bureaus don’t take into consideration how long you’ve had open lines of credit.
4.
According to financial experts, if you have a credit card with a $10,000 limit, you should aim to carry no more than a _____________ balance at any given time.
A.
$3,000
B.
$7,500
C.
$300
D.
$5,000
5.
The following can help to ensure you’ll make on-time and in-full payments on your credit card:
A.
Setting up automatic payments
B.
Having a co-borrower
C.
Developing a habit of making smaller, weekly payments
It looks like you may need to spend a little more time learning about how to best use a credit card. That's okay! We're here to help. Check out our 5 Tips for Using Credit Cards Wisely.
You missed a couple of questions. You might want to freshen up on how to best use a credit card. We've got you covered! Check out our 5 Tips for Using Credit Cards Wisely.