Understanding Your Credit Card Statement
A worksheet for 6th graders to understand basic components of a credit card statement, including charges, payments, and balances.
Includes
Standards
Understanding Your Credit Card Statement
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Read each question carefully and answer to the best of your ability. Use the provided information about credit card statements to help you.
A credit card statement is a monthly summary of your credit card account. It shows how much you owe, how much you've paid, and what purchases you've made. Let's learn about some important parts of a statement.
1. The is the total amount of money you owe on your credit card at the end of the billing cycle.
2. When you pay money to your credit card company, it is called a .
3. A is money that you spend using your credit card.
4. The is the date by which your payment must be received to avoid late fees.
5. If your previous balance was $200, you made new purchases of $50, and you made a payment of $100, what is your new balance?
$150
$250
$350
$100
6. Which of these would NOT appear as a charge on a credit card statement?
Groceries
Utility bill
Cash deposit into a savings account
Gasoline
7. Why is it important to pay your credit card bill on time?
8. A credit card statement only shows the money you owe, not the money you've paid.
True
False
9. If you make a payment, your 'Amount Due' will usually decrease.
True
False
10. Sarah's credit card statement showed a previous balance of $175. She made a purchase of $30 at a bookstore and another purchase of $25 at a cafe. She then made a payment of $100. What is Sarah's new balance?