Chetco Federal Credit Union Student Credit Test
Page 1
Your Information
Last Name:
First Name:
Member Number:
Phone:
1. True or False? Interest is the cost you pay to the creditor for the use of their money.
Answer:
T
F
2. A Grace period is the amount of time you have to pay off the new purchases on your card before you have to start paying interest.
What is CFCU's Grace Period? _____ days.
Answer:
3. All payments for your CFCU credit card account are due by the 25th of each month. You have 15 days after that to pay before a Late Charge of $______ will be assessed.
Answer:
4. You should keep balances at no more than what percent of the credit limit to maintain the best credit score?
Answer:
a. 60%
b. 10%
c. 30%
d. 90%
5. True or False? The design on the front of the card directly reflects how great of an offer you are getting.
Answer:
T
F