If Your Credit Card Company Decides to Increase Your Interest

question 8

True/False

If your credit card company decides to increase your interest rate, it must notify you 30 days in advance.

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Definitions:

Critical Thinking Skill

The ability to analyze information objectively, evaluate arguments and evidence, and make reasoned judgments and decisions.

Encoding

The act of altering information into a state that can be preserved in memory.

Information Processing Approach

A cognitive psychology theory that compares human thought processes to computer analysis, emphasizing ways in which people focus on, analyze, store, and retrieve information.

Piaget

Jean Piaget was a Swiss psychologist known for his pioneering work in child development, particularly his theory of cognitive development that describes how children's intellect grows.