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Finance

Student pop quiz: Do you know about credit cards?
By Myra Cristobal • Bankrate.com

Test your financial IQ

Your SAT scores and high school transcripts prove you are smart -- certainly bright enough to be accepted into the world of higher education. But, how fiscally wise are you? Grade yourself after taking this pop quiz.

  1. The average college undergrad has more than $2,000 in credit card debt.

    True
    False

  2. The four factors that push students into consumer debt are wine, whiskey, fast living and slow horses.

    True
    False

  3. The best way to reduce your credit card debt is to use coupons.

    True
    False

  4. Although they think they're always broke, American college students in fact have more than $10 billion to spend.

    True
    False

  5. Less than 50 percent of students say they pay their credit card balance in full and on time each month.

    True
    False

  6. For the best deal in a student credit card, stop over to see Three Fingers Vinny down at the corner of Fifth and Main.

    True
    False

  7. Banks really hate it when you bounce a check.

    True
    False

  8. All banks offer pretty much the same services and charge the same fees.

    True
    False

-- Updated: April 7, 2003

 

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