Debit Cards and Credit Cards

Debit Cards and Credit Cards

Expenses

Money that you spend

Multiple Select

Select all fixed expenses

• car payment

• house payment or mortgage

• Vacation

• rent

Multiple Select

Select all variable expenses

• car payment

• house or mortgage payment

• vacation

• rent

Multiple Select

Select all the variable expenses

• electric bill

• water bill

• groceries

Multiple Select

Select all of the fixed expenses

• Insurance

• clothes and shoes

• gas for traveling

• eating out

• Doctor bills

Multiple Select

Select all of the variable expenses

• Cell phone bill

• gifts and presents

• car repairs

• Netflix subscription

Debit Cards vs. Credit Card

Knowing the differences

Debit Cards

These cards are directly connected to your banking or checking account. Money is used immediately when you use it.

Credit Cards

Is a card not connected to a bank account, but instead when you use it you are borrowing money

Multiple Choice

Affects credit score

• Debit Card

• Credit Card

• Both

Multiple Choice

Has perks such as, cash back and rewards

• Debit Card

• Credit Card

• Both

Multiple Choice

Has fraud protection

• Debit Card

• Credit Card

• Both

Multiple Choice

May cause unnecessary debt

• Debit Card

• Credit Card

• Both

Multiple Choice

Great for emergencies

• Debit Card

• Credit Card

• Both

Multiple Choice

It may require a signature when making a purchase.

• Debit Card

• Credit Card

• Both

Multiple Choice

It can be used to purchase goods and services.

• Debit Card

• Credit Card

• Both

Multiple Choice

To avoid carrying cash, Ned pays for his lunch using this card. Each time he uses this card his checking account decreases. Which card did he use?

• Debit Card

• Credit Card

• Both

Multiple Choice

Mrs. Brady took her family out to eat. She handed the waitress a card to purchase the meal. This charge appeared on a bill that she paid three weeks later. Which card did she use?

• Debit Card

• Credit Card

• Both

Multiple Choice

Rosa’s gas pump went out as she was driving her car to work. Since she did not have enough money to cover the cost to replace the pump, she used a card that allowed her to pay later. What card did she use?

• Debit Card

• Credit Card

• Both

Multiple Choice

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?

• Debit Card

• Credit Card

• Both

Multiple Choice

If the card is lost or stolen, report it immediately.

• Debit Card

• Credit Card

• Both

Multiple Choice

Interest may be charged but can be avoided by paying the entire balance each month.

• Debit Card

• Credit Card

• Both

Multiple Choice

A PIN (Personal Identification Number) is required to make a purchase.

• Debit Card

• Credit Card

• Both

Multiple Choice

Convenient to use.

• Debit Card

• Credit Card

• Both

Multiple Choice

Hefty fees may be charged if you spend more than what is in the account.

• Debit Card

• Credit Card

• Both

Multiple Choice

Consumers can purchase items now and pay for them later.

• Debit Card

• Credit Card

• Both

Multiple Choice

Each purchase is a loan that is repaid later.

• Debit Card

• Credit Card

• Both

Multiple Choice

Money is withdrawn directly from a checking or savings account.

• Debit Card

• Credit Card

• Both

Open Ended

What do you know about debit cards?

Open Ended

What do you know about credit cards?