Newest Chapter

Question 0

Impulse buying

Answer 0

When a consumer purchases something to which they are attracted,and had no intention of buying

Question 1

Credit card

Answer 1

A type of credit card account hat has a revolving charge where the entire bill does not have to be paid within one month

Question 2

Charge card

Answer 2

A type of credit card where the monthly bill must be paid in full, and there is no interest charged

Question 3

Revolving charge account

Answer 3

A type of credit card that doesn’t need to be paid in full each month there is a minimum monthly payment and finance charge

Question 4

Truth in lending act

Answer 4

A law that offers protection if a credit card is lost or stolen, the mXimum liability is $50

Question 5

Fair credit reporting act

Answer 5

The law that gives protection to a consumer in the case of a monthly credit card mistake consumers are not disrupted and have no liability

Question 6

Fair debt collection practices act

Answer 6

The law that prohibits the creditor from using harrassment to collect the amount owed

Question 7

Debit card

Answer 7

A card that acts like an electronic check and is not a credit or charge carding each purchase cash is deducted from your account

Question 8

Electric funds transfer act

Answer 8

The law that protects consumers against unauthorized use of their cards, users are not responsible for purchases made if their card is lost or stolen

Question 9

Average daily balance

Answer 9

The average amount owed per day during a billing cycle