41. Which of the following is a common credit card fee?
a) Annual fee
b) Deposit fee
c) Credit limit fee
d) Cash withdrawal fee
42. What is the primary factor in determining a person’s credit limit on a credit card?
a) Income level
b) Credit score/history
c) Age
d) Employment status
43. What is the purpose of a chip on a credit card?
a) It serves as a signature for card verification
b) It contains the cardholder’s personal information
c) It stores the card’s expiration date
d) It adds an extra layer of security for in-person transactions
44. What is a secured credit card?
a) A credit card with a low-interest rate
b) A credit card that offers travel rewards
c) A credit card that requires collateral
d) A credit card for students
45. True or False: Credit card companies can increase a cardholder’s interest rate at any time.
