Credit Cards trivia
Related Trivia
Credit Cards Mini Quiz
Test your knowledge with these top questions!
Question 1
Often used to build credit, what financial tool allows a person to borrow funds from a bank to pay for purchases?
The first universal credit card, Diners Club, was launched in 1950 after founder Frank McNamara forgot his wallet at a New York restaurant.
Question 2
Used to compare borrowing costs, what acronym represents the annual interest rate charged on unpaid credit card balances?
APR includes both the interest rate and other costs related to the loan, giving consumers a more accurate picture of the total cost of borrowing.
Question 3
Printed on the back of most plastic cards to prevent fraud, what 3-digit security code is used to verify online transactions?
The CVV code is not stored on the magnetic stripe or chip, making it harder for hackers to use stolen card data for online purchases.
Question 4
Invented by an IBM engineer using a clothes iron, what dark band on the back of a card stores electronic account data?
IBM engineer Forrest Parry successfully used a hot clothes iron to melt the magnetic tape onto a plastic ID card, creating the first prototype.
Question 5
Launched by Bank of America as the BankAmericard, which major credit card network is known for its blue, white, and gold logo?
Originally a Bank of America venture, the network was renamed Visa in 1976 because the name is easy to pronounce in almost any language.