5 Questions
What is the average credit card debt per household in 2012?
$7,100
What is the primary purpose of a credit card for consumers?
To make purchases on credit
What is the fundamental difference between a credit card and a debit card?
Credit card allows purchases on credit, while a debit card deducts directly from the user's bank account
What does the text suggest about credit cards for consumers?
Credit cards can be a convenient tool or a nightmare if used irresponsibly
What is the primary benefit of a credit card for creditors?
A convenient way to loan money for everyday consumer purchases
Test your knowledge about credit cards with this quiz from The Actuarial Foundation. Learn about credit card basics, the impact of credit on financial health, and how to use credit responsibly. Gain insights into the average credit card debt in the U.S. and the number of Americans using credit cards.
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