Financial Literacy - Understanding Credit Cards

1.

1 point

What does the credit company do when your credit card has expired, as shown by the expiration date on your card?

Resets the security system

Charges you an annual fee

Cuts off your credit limit

Automatically renews your card

2.

1 point

Where should you record the customer service number on the back of the
card?

On the front side of the card

Your contact sheet at home

On your driver's license

In your wallet

3.

1 point

Which of the following cannot be on the front of a credit or debit card?

The main credit company such as Visa® or MasterCard®

A participating business such as a university or a local bank

The cardholder’s name

The name of your personal banker

4.

1 point

When dealing with credit companies other than American Express®, what do the first six numbers on a credit card identify?

Your actual account number

The region and branch location of the company who issued the card

The company that issued the card

A security checkpoint

5.

1 point

When dealing with credit companies other than American Express®, what do the the eleventh through fifteenth numbers identify?

Your street address

A security checkpoint

the address of the company

Your actual account number

6.

1 point

When dealing with credit companies other than American Express®, what do the the seventh through tenth numbers identify?

The region and branch location of the company who has issued the card

Your actual account number

A security checkpoint

Your street address

7.

1 point

When dealing with credit companies other than American Express®, what does the sixteenth number on a credit card identify?

The first letter of your last name

Your credit limit

Your actual account number

A security checkpoint

8.

1 point

Which of the following is used as a security measure in an effort to prevent
fake cards from being used?

Bright colors

Bank name on the card

Different designs

Holographic image

9.

1 point

The three digit code on the back of most cards tells the merchant which of the following?

Your credit limit

The expiration date

A security code

Your birthday

10.

1 point

The magnetic strip on the back of the card does NOT contain which of the
following?

Your credit limit

Your name

The expiration date

The credit card number