6 Questions
What is the main benefit of using a credit card according to the text?
Convenience compared to carrying cash
How is the interest usually calculated on credit card purchases?
Daily
What is a credit limit in relation to a credit card?
The maximum amount the cardholder is approved to spend
What does the interest-free period typically apply to on a credit card?
Purchases if paid in full within a certain time frame
Which of the following is true about cash advances on credit cards?
They have a higher interest rate than purchases
What additional feature do some credit cards offer besides cash-back rewards?
Extended warranty on purchased items
Explore the world of credit cards through this quiz focusing on credit card calculations, interest charges, and credit limits. Learn how credit cards work as short-term loans for making purchases and managing finances conveniently.
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