The ultimate credit card quiz

How much do you know about the fine print in those credit card offers that crowd your mailbox? Annual percentage rate (APR), fixed rate, balance-transfer fee -- if it all sounds like "blah, blah, blah," you could be in for real debt trouble.

1. It is better to have a fixed-rate credit card than a variable-rate credit card so you don't have to worry about your APR being raised.

   True

   False

2. Paying only the minimum monthly payment is a good way to pay off your credit card debt.

   True

   False

3. If you do not purchase credit card theft insurance, you will be responsible for whatever charges a thief puts on your account if your card is stolen.

   True

   False

4. If you have a credit card you no longer use, cut it up and throw it away. The account will close after ten months of inactivity.

   True

   False

5. Almost 1,000 Americans a year are victims of identity theft.

   True

   False

6. The Fair Credit Billing Act gives consumers the right to withhold payment on poor quality or damaged merchandise purchased with a credit card.

   True

   False

7. If you want a lower rate on your credit card, you can probably get one just by asking.

   True

   False

8. Credit card companies must give you 60 days notice before raising your rate.

   True

   False

9. By law, your credit card must charge the same rate for purchases and cash advances.

   True

   False

10. Every time you check your credit history, you damage your credit.

    True

    False

11. A secured card is a credit card with a rate guaranteed not to increase.

    True

    False