Credit Cards

Front

What are the two types of money Jasmine can use to pay for her expenses? Options: Savings and loans, Cash and checks, Debit and credit, Gift cards and coupons

Back

Debit and credit

Front

What is the main difference between using debit and credit?

Back

Debit draws money directly from your bank account.

Front

What does the bank expect when you use a credit card?

Back

To pay interest if the balance isn't paid in full

Front

How can Jasmine avoid paying interest on her credit card?

Back

By paying off her balance in full by the due date

Front

What benefit does responsibly using a credit card offer Jasmine?

Back

Building a great credit score

Front

What is required for most credit cards in terms of credit score?

Back

At least 600

Front

What makes student credit cards accessible to Jasmine?

Back

Being a full-time student and at least 18 years old

Front

What is a consequence of having a co-signer for a credit card?

Back

The co-signer is liable for missed payments

Front

How can Jasmine initially build her credit score without her own credit card? Options: By being added as an authorized user on her family's account, By borrowing money from friends, By paying for her expenses in cash, By using a debit card for all her purchases

Back

By being added as an authorized user on her family's account