With most loans, you know what interest rate you’re paying on the loan. With credit cards, however, knowing what interest you are paying on outstanding balances is not that easy. The fine print of credit card agreements contains numerous subtle points about the annual percentage rates (APR).

If you’ve ever felt like you’d have to go to law school to learn how to read the fine print on credit card agreements, you’re not alone. Most consumers simply ignore the credit card Terms and Conditions, sign on the dotted line, and swipe away happily ever after.

As credit cards have become as ubiquitous as cell phones and video games, has our knowledge about how to best use credit cards kept pace? Do card holders know the basics about credit scores, credit reports, and how to avoid the most common pitfalls of credit cards?

In today’s economic environment, it’s more challenging than ever to manage one’s personal finances. When it comes to credit cards in particular, not knowing the basic rules of the game can be very costly. How credit card savvy are you? Take our quiz to test your Credit Card IQ.

Many people wonder how credit card companies are able to verify that the amount they list as their annual income on a credit card application is correct.