Checking Account & Debit vs. Credit Cards

Checking Account & Debit vs. Credit Cards

Credit Cards

• Buy now, pay later

• Interest charged if borrowed amount is not fully repaid

• Spending limit

• Withdrawal fee

Debit Cards

• Money immediately removed from the bank account

• Linked to a checking or savings account

• Withdraw cash

• Spend only what you have in your bank account

Checking Account

• A bank account

• Make deposits or withdrawals from your account

• Transfer funds (money) between another bank account

• Balance your account with a check register

Multiple Choice

Matthew dislikes that when he gets behind on his payments he will be charged interest.

• Credit Card

• Debit Card

Multiple Choice

Evelyn dislikes that this method of payment will charge her an overdraft fee if she accidently tries to spend more than is in her account.

• Credit Card

• Debit Card

Multiple Choice

Trey likes that this method of payment allows him to take money out of an ATM as well as get cash back at various stores.

• Credit Card

• Debit Card

Multiple Choice

Dayanara likes that this method of payment allows her to make purchases on things that she might not have money for now but will pay later.

• Credit Card

• Debit Card

• Both

Multiple Choice

Joseph swipes this plastic card to purchase a new bicycle for the summer.

• Credit Card

• Debit Card

• Both

Multiple Choice

When Reina gets paid her paycheck is deposited directly into a

• Checking account

• Credit Card

• Chik-fil-A

Multiple Select

Evan's debit card is linked to his (check all that apply)

• Google Classroom account

• Checking account

• Savings account

• None of these

Poll

I would much rather have a

• Credit Card

• Debit Card

Open Ended

I would prefer a ________ card because...