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Questions and Answers
Many credit card companies charge an annual fee for the privilege of using their card.
True
In cases where people have good credit history and use their card frequently, companies often waive the fees.
True
All credit cards that advertise no annual fees also offer fee-free service for a period of time.
False
Economists assume that people can have everything they need and want.
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Economists study the impact of decisions on others.
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Economics is the study of how to accumulate unlimited wealth.
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Study Notes
Credit Card Fees
- Many credit card companies charge an annual fee for using their card
- Annual fees can be waived for individuals with good credit history and frequent card usage
- Some credit cards advertise no annual fees
- Others offer fee-free service for a limited period, such as the first year or two
Definition of Economics
- Economics is the study of choices made by individuals and organizations
- Economists assume that people cannot have everything they need and want due to limited resources
- Economists seek to understand how people make decisions about what they will seek, how they will seek it, and what they will do without
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Description
Test your knowledge about credit card annual fees with this quiz. Learn about when fees are waived, which cards offer no annual fees, and how to find fee-free service for a period of time. Understand the factors that influence annual fees and make informed decisions about credit card usage.
