Credit or Debit?
Flashcard
•
Mathematics
•
6th Grade
•
Practice Problem
•
Hard
Standards-aligned
Wayground Content
FREE Resource
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a debit card?
Back
A debit card is a payment card that is directly linked to your bank account, allowing you to spend only the money you have.
2.
FLASHCARD QUESTION
Front
What is a credit card?
Back
A credit card is a payment card that allows you to borrow money from the bank up to a certain limit to make purchases.
3.
FLASHCARD QUESTION
Front
How does a debit card work?
Back
When you use a debit card, the money is immediately deducted from your bank account.
4.
FLASHCARD QUESTION
Front
How does a credit card work?
Back
When you use a credit card, you borrow money from the bank to make a purchase, which you must pay back later.
5.
FLASHCARD QUESTION
Front
What happens if you don't pay your credit card bill on time?
Back
You may incur late fees and interest charges on the unpaid balance.
6.
FLASHCARD QUESTION
Front
What is interest on a credit card?
Back
Interest is the cost of borrowing money, usually expressed as a percentage, that you pay if you don't pay off your balance in full.
Tags
CCSS.7.RP.A.3
7.
FLASHCARD QUESTION
Front
What is an overdraft?
Back
An overdraft occurs when you spend more money than you have in your bank account, which can happen with a debit card if your bank allows it.
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