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Are you in Good Hands?


Many people have the wrong ideas about how to manage their credit cards wisely. One might think that carrying a balance helps their credit score, or that you should only have one credit card at a time (wrong on both accounts). Are you making credit card mistakes without realizing it? Find out by taking this quiz, then learn how to avoid these mistakes in the future.

  • 1) Which of the following could damage your credit score?

    (A)Carrying a zero balance

    (B)Missing a payment

    (C)Having multiple credit cards

  • 2) When money is tight, which of the following is the best way to make purchases?

    (A)Getting a cash advance from your credit card account

    (B)Maxing out one credit card

    (C)Spreading your purchases between two cards

  • 3) To make sure you’re getting a good deal on a credit card, you should:

    (A)Read the fine print about fees, interest rates, and bonuses

    (B)Choose one that has a teaser rate like a 0% introductory APR

    (C)Pick one that doesn’t have an annual fee

  • 4) To get a grip on your credit card debt, you should:

    (A)Open new accounts with promotional offers and close those with high interest rates

    (B)Transfer debt from a high interest-rate card to a lower one and develop a plan to pay that off

    (C)Make the minimum monthly payments for each card you currently have

  • 5) When paying your credit card bill each month, the first thing you should do is:

    (A)Review the charges to see if there are errors or fraudulent charges

    (B)Zero in on the minimum payment

    (C)Look at how much is left on your credit limit

  • 6) When should you call your credit card company?

    (A)Your card is lost or stolen

    (B)You want to dispute a late fee or interest charge

    (C)You want to raise your credit limit

    (D)All of the above