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Questions and Answers
What mistake do many Americans make when it comes to credit card debt?
What mistake do many Americans make when it comes to credit card debt?
- They carry a balance from month to month, making only minimum payments. (correct)
- They pay off their full balance every month.
- They never check their credit card statements.
- They avoid using credit cards altogether.
What happens if you don't pay off the full credit card balance every month?
What happens if you don't pay off the full credit card balance every month?
- You will get a discount on your next month's bill.
- You will incur interest on the remaining balance. (correct)
- You will not be able to make any additional purchases.
- You won't owe any interest.
What impact can carrying a credit card balance from month to month combined with high interest rates have?
What impact can carrying a credit card balance from month to month combined with high interest rates have?
- It will have no impact on your credit score.
- It can hinder your ability to create a secure financial future. (correct)
- It can lead to a secure financial future.
- It will decrease your credit limit.
What is the simplest way mentioned in the text to avoid credit card debt altogether?
What is the simplest way mentioned in the text to avoid credit card debt altogether?
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What is a credit card?
What is a credit card?
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How is credit card debt typically calculated?
How is credit card debt typically calculated?
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What happens when you pay with a credit card?
What happens when you pay with a credit card?
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