Question 9 According to FoolProof and most consumer groups, credit cards have a huge and usually negative impact on a young person's ability to budget and save. Tell us which statements about credit cards are correct. won 1. Every time you use your credit card you are borrowing money from a stranger. 2. My credit card company says I can owe up to $1,000 on my credit card. Therefore it's okay if I always owe $950 on my card. Owing that much won't hurt my credit as long as I pay my minimum payment on time. 3. Many credit card companies charge a "teaser" rate to get you to take their card and then raise that rate later. 4. According to FoolProof, and many other consumer groups, some credit cards designed for young people are the worst credit cards you could ever get. 5. Credit card companies charge you interest any time you charge a purchase, unless you pay off that purchase before the end of your "grace" period. 6. Making the minimum payment on a credit card is a really dumb thing to do, unless you love throwing away lots of money. 7. Virtually every credit card company wants you to charge more on your credit card than you can afford to pay off in full each month. 8. My credit card company sends me "checks" in my statement that allow me & credit card company sends me "checks in my statement that allow me to spend money easily. I should NEVER use those. Credit card companies normally charge rip-off interest rates, if you borrow money using these "checks I should never get a cash advance on my credit card, unless it is an extreme emergency Most credit card companies charge rip-off interest rates on cash advances. A Numbers 2,5. 8 and 9. B Numbers 1, 3, 4, 6 and 7 c. All of the above D. None of the above