The Ultimate Credit Card Quiz
by Staff
Americans just love to shop, causing us to buy stuff that we really don't need and sometimes can't afford. Total consumer debt in the United States has reached epic proportions, though it is down since the current fiscal crisis began. If you're one of those people who could use some sound advice on how to use your credit card wisely, our quiz is for you.

Credit card finance charges can go as high as:

  • 3 percent
  • 13 percent
  • 23 percent

The information on a credit card is read by :

  • store readers
  • automated teller machines
  • both of the above

The first universal credit card was introduced by:

  • Diners Club, Inc.
  • Diners Credit Card Company
  • Diners Corporation of America

Credit card holders can pay their bills:

  • in their entirety
  • in installments
  • both of the above

Visa started out as:

  • BankAmericard
  • American Express
  • MasterCard

The first digit in your credit card number signifies:

  • the credit card system
  • the state you live in
  • the first letter of your name

The stripe on the back of a credit card is:

  • a radioactive stripe
  • a magnetic stripe
  • an electrical stripe

Which device is used to "read" your credit card information?

  • a card reader
  • a magstripe reader
  • a system reader

How does the magstripe on your credit card get erased?

  • through exposure to cold
  • through exposure to heat
  • through exposure to a magnet

How many tracks are there on a magstripe?

  • three
  • 10
  • 20

In order to get cash from an ATM machine, you will need to know your:

  • personal identification number
  • personal identification code
  • personal identification data

A new generation credit card that was introduced in France in 1984 is known as the _____card.

  • new
  • smart
  • safe

Which government body regulates credit card safety?

  • the Federal Credit Card Commission
  • the Federal Credit Reporting Commission
  • the Federal Trade Commission

How can you protect yourself from credit card fraud?

  • Always sign your card.
  • Guard your PIN number.
  • both of the above

Shopping for a credit card is just as important as shopping for:

  • a mortgage
  • groceries
  • clothing

You should _____ choose a credit card with the lowest annual percentage rate.

  • always
  • never
  • sometimes

If you've had credit issues in the past, you might have to opt for a _____credit card.

  • secured
  • unsecured
  • insecure

Which information is important to you when choosing a credit card?

  • finance charges
  • size of the credit line
  • both of the above

Which type of credit card carries the logo of an organization in addition to the lender's emblem?

  • a bank card
  • a house card
  • an affinity card

What is the most common mistake consumers make when paying their credit card bills?

  • They make only minimum payments on their credit card bill.
  • They make too many payments on their credit card bill.
  • They make too few payments on their credit card bill.