Answer Key
Credit cards – Comprehension Check
- With secured cards, the consumers [are borrowing their own money and paying interest for the right to use the cards]
- These days, credit cards are regarded as [something you cannot live without]
- A period in which a debt may be paid without accruing further interest or penalty is [a grace period]
- If somebody says something with a straight face [he shows no emotions]
- Why did Mr Larson's blood start to boil, even though his son's credit card offered an attractive interest rate of 9.9%? [there were hidden fees which were exorbitant]
- Usury is [the practice of loaning money at a very high interest rate]
- A fee-harvesting card is [a card with many high fees]
- If the bank EVENTUALLY gives a low-credit client a chance to use a standard credit card, it means [the client will get it in the end]
- Both fee-harvester cards and secured cards have other GOTCHAS means [there are some problems]
- Hefty fees are [too high]