Credit Cards & Smart Usage
Learn how to use credit cards wisely with this practical flashcard deck covering credit card basics, interest rates, rewards, fees, and credit score impact. This deck helps you understand how to avoid debt, maximize cashback and rewards, and build a strong credit profile. Perfect for beginners and anyone looking to improve their financial habits, these flashcards simplify complex credit concepts into actionable insights. Master responsible credit usage and make smarter financial decisions with confidence.
Cards in this deck
What is a credit card?
A financial tool that allows you to borrow money up to a limit to make purchases.
What is APR?
Annual Percentage Rate, the yearly interest charged on unpaid balances.
What is a credit limit?
The maximum amount you can borrow on your credit card.
What is minimum payment?
The smallest amount you must pay each month to keep your account in good standing.
How does credit utilization affect your score?
High utilization lowers your credit score; keeping it below 30% is recommended.
What is cashback?
A reward where you earn a percentage of your spending back.
What is cashback?
A reward where you earn a percentage of your spending back.
What happens if you miss a payment?
You may incur late fees and damage your credit score.