1. Understanding Your Credit Card
Credit Cards
101 Trivia
Understanding Your Credit Card 1

2. Trivia Instructions Divide the students into teams of 3-5
Provide each team with a white board and a dry erase marker
Have each team create a team name and write it on the board where points are being tallied
Choose a team to select a category and point value
Read the question and allow all of the teams 10 seconds to write their response on the paper

3. Trivia Instructions
Have the students hold their answers up at the same time
Each time, award every team who answered the question correctly the money value indicated by the question
If they answer incorrectly, the teacher may take away the point value
Allow the next team to choose the category and point value
Continue until all of the questions have been answered
The team with the most money at the end wins

4. Credit Cards 101 Trivia $100 $200 $300 $400 Terminology Schumer Box
Final Trivia
Terminology
Schumer Box
Credit History
Credit Card Knowledge
$100
$200
$300
$400

5. Terminology- $100 Answer: A yearly fee that may be charged
for having a credit card.

6. Terminology- $100
Question:
What is an annual fee?

7. Terminology- $200 Answer: When a consumer has passed
an initial credit check.

8. Terminology- $200
Question:
What is pre-approved?

9. Terminology- $300 Answer:
A loan which the borrower must repay the amount in a specified number of equal payments.

10. What is closed-end credit?
Terminology- $300
Question:
What is closed-end credit?

11. Terminology$400
Answer:
A plastic card that is electronically connected to the cardholder’s bank account.

12. Terminology- $400
Question:
What is a debit card?

13. Schumer Box- $100 Answer: The cost of credit expressed
as a yearly interest rate.

14. What is the annual percentage rate (APR)?
Schumer Box- $100
Question:
What is the annual percentage rate (APR)?

15. Schumer Box - $200 Answer: Transferring debt from one
credit card account to another.

16. What is a balance transfer?
Schumer Box - $200
Question:
What is a balance transfer?

17. The interest rate charged right after a credit card account is opened.
Schumer Box - $300
Answer:
The interest rate charged right after a credit card account is opened.

18. What is introductory rate?
Schumer Box - $300
Question:
What is introductory rate?

19. Schumer Box - $400
Answer:
The interest rate charged on new transactions if the penalty terms in the credit card contract are triggered.

20. Schumer Box - $400
Question:
What is penalty APR?

21. An individual’s ability and willingness to pay money back.
Credit History- $100
Answer:
An individual’s ability and willingness to pay money back.

22. What is creditworthiness?
Credit History-- $100
Question:
What is creditworthiness?

23. A record of a consumer’s credit history.
Answer:
A record of a consumer’s credit history.

24. Credit History - $200
Question:
What is credit report?

25. Credit History - $300 Answer: A number that summarizes an individual’s
credit record and history.

26. Credit History - $300
Question:
What is a credit score?

27. An example of positive credit card use.
Credit History - $400
Answer:
An example of positive credit card use.

28. Credit History- $400 Question: What is:
Paying card balances in full every month
Paying card bills on time
Applying for only cards that are needed
Keeping track of all charges
Checking monthly card statement for errors

29. Credit Card Knowledge - $100
Answer:
Outlines important information about a credit card, including transactions the cardholder has made during that billing cycle and the current balance on the credit card.

30. Credit Card Knowledge - $100
Question:
What is a credit card statement?

31. Credit Card Knowledge - $200
Answer:
The cardholder’s liability for unauthorized credit card charges under the Truth in Lending Act.

32. Credit Card Knowledge - $200
Question:
What is $50.00?

33. Credit Card Knowledge - $300
Answer:
The maximum amount of charges
allowed to the account.

34. Credit Card Knowledge - $300
Question:
What is the credit limit?

35. Credit Card Knowledge - $400
Answer:
To increase credit card safety, the back of the card should include the cardholder’s signature and this.

36. Credit Card Knowledge - $400
Question:
What is “Please see ID?”

37. Final Trivia

38. Final Trivia
Answer:
An APR that may change depending on other factors, such as the prime rate.

39. What is variable-rate APR?
Final Trivia
Question:
What is variable-rate APR?