Second Chance Credit Cards

8 Questions | Total Attempts: 36

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Credit Card Quizzes & Trivia

What can a "second-chance" credit card do for someone with poor credit?


Questions and Answers
  • 1. 
    The good news is that all credit card companies offer "second-chance" credit cards!
    • A. 

      True

    • B. 

      False

  • 2. 
    Trans-Union, Experian and Equifax maintain our credit history records:
    • A. 

      Only if you ask them to do so.

    • B. 

      For about 7 years.

    • C. 

      For about 2 years.

    • D. 

      Only for those who need a second chance at establishing credit.

  • 3. 
    There really is no such thing as a "bad" credit card.
    • A. 

      True

    • B. 

      False

  • 4. 
    A low balance credit card:
    • A. 

      Is not worth having in your wallet.

    • B. 

      Limits you to a maximum of $50 credit card purchase per day.

    • C. 

      Is a good option for those trying to rebuild their credit.

    • D. 

      Is inferior to a "normal" credit card.

  • 5. 
    If you have good credit history, you will often pay a lower interest rate when they borrow money.
    • A. 

      True

    • B. 

      False

  • 6. 
    There are not very many credit card options out there for people with poor credit history.
    • A. 

      True

    • B. 

      False

  • 7. 
    An unsecured credit card does not require collateral.
    • A. 

      True

    • B. 

      False

  • 8. 
    A prepaid credit card:
    • A. 

      Is for losers with horrible credit only.

    • B. 

      Requires a co-signer on the account.

    • C. 

      Lets you spend only the amount loaded onto the card.

    • D. 

      Lets you spend only up t $250.00 per card.

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