Credit or Debit?

Front

What is a debit card?

Back

A debit card is a payment card that pulls money directly from your bank account when you make a purchase.

Front

What is a credit card?

Back

A credit card is a payment card that allows you to borrow money from a bank to make purchases, which you must pay back later.

Front

How does a debit card affect your bank account?

Back

Using a debit card subtracts money directly from your bank account.

Front

What happens if you don't pay your credit card bill on time?

Back

You may incur fees and interest charges on the unpaid balance.

Tags

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

Front

Can you spend more money than you have with a debit card?

Back

No, you can only spend the amount available in your bank account with a debit card.

Front

What does it mean to 'debit' your account?

Back

To 'debit' your account means to subtract money from it.

Front

What is the main difference between a debit card and a credit card?

Back

A debit card uses your own money from your bank account, while a credit card allows you to borrow money.

Front

What are potential fees associated with credit cards?

Back

Credit cards may have annual fees, late payment fees, and interest charges on unpaid balances.

Front

Is it possible to have a negative balance with a debit card?

Back

Typically, no. Most banks do not allow you to spend more than what you have in your account.

Front

What is a common use for a debit card?

Back

A common use for a debit card is to make everyday purchases like groceries or gas.

Tags

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3