The Ultimate Managing Credit by Online Banking Quiz
by Staff
Managing your credit can be a hassle, but the convenience of online banking can help you keep on top of your debts and keep within your budget. Online banking offers a range of options and services that you can access from the convenience of your home. Take this quiz to see if you know how to manage your credit using online banking.

About how many Americans use online banking?

  • a quarter
  • a half
  • three-quarters

What do the majority of online bank transactions involve?

  • credit cards
  • debit cards
  • checks

What was the total amount of debt Americans had at the end of 2009?

  • $874 million
  • $874 billion
  • $874 trillion

Who is affected by heavy credit card debt?

  • the individual
  • the economy
  • both of the above

How can you take control of your finances?

  • Understand your spending patterns.
  • Avoid using the ATM.
  • Limit your social life.

How many trees would be saved each year if everyone did all their banking online?

  • 3 million
  • 9 million
  • 17 million

How many paper checks would be saved every year if everyone used direct deposit?

  • 2 billion
  • 7 billion
  • 13 billion

What can you see when you log into your online banking?

  • deposits and withdrawals
  • only deposits
  • only withdrawals

If you set up automatic bill payment from your online account, what do you need to do?

  • Log on every month to authorize payment.
  • Call the billing company to make sure they received payment.
  • Keep enough money in the account to pay each bill.

If your bank account is set up primarily for online banking, what might happen if you go into a branch?

  • They won't allow you in.
  • They may charge you a fee to see a teller.
  • You may have to open a new account.

How does online banking help you manage your debt?

  • You can check current banking activity.
  • You can transfer money easily.
  • You can take a cash advance from your credit card as an interest free loan.

What should you do if you have a teenager who spends a lot on his or her credit card?

  • Take away the card.
  • Set a credit limit on the card.
  • Ground the teenager.

How do credit cards companies make extra money?

  • They charge late fees.
  • They lure you into spending more than you can afford.
  • They charge you a percentage of your purchases on the card.

How can you improve your credit rating?

  • Liquidate your shares.
  • Take out a loan.
  • Open various credit accounts.

What are all people in the U.S. entitled to every year to help them manage their credit record?

  • a financial bonus
  • a free credit report from three credit bureaus
  • a consultation with a financial adviser