The Credit Card Habits Quiz

The Credit Card Habits Quiz (from Personal Finance, 5th ed., Arthur J. Keown)
If you answer yes to any of these questions, you may have problems controlling your credit card spending.

  • Do you make only the minimum payment on your credit card each month?
  • Have you reached your spending limit on one or more credit cards?
  • When out to dinner with a group of friends, do you pay the entire bill with your credit card and have them reimburse you for their share with cash?
  • Do you wait for your monthly bill to determine how much you have charged on your credit card rather than keep track of all your credit card transactions as they occurred?
  • Do you get cash advances because you do not have enough money in your checking account?
  • Have you been turned down for credit or had one of your credit cards canceled?
  • Have you used some of your savings to pay off credit card bills?
  • Do you know how much of your credit card bill is from interest?
  • Does your stomach start churning when you get your credit card bill?