Unit 6: Electronic Banking {Day 2}

​Unit 6:

Electric Banking

Miss Danes Personal Finance TSAS

Open Ended

Question of the Day:

What is your go-to fast/drive-thru place?

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Multiple Choice

Between Eddie (pays only the minimum) and Maggie (pays $500 per month) - who is the more fiscally responsible of the two?

• Eddie - paying the minimum payment

• Maggie - pays 20 times the minimum

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Multiple Choice

Between Eddie (pays only the minimum), Maggie (pays $500 per month), and Pedro - who is the most fiscally responsible?

• Eddie - paying the minimum payment, but does not make any additional charges

• Maggie - pays 20 times the minimum, but does not make any additional charges

• Pedro - pays balance in full, but spends money every month

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Multiple Select

What is true for both a secured and unsecured card? [select all that apply]

• your credit limit is equal to your refundable deposit

• can be used for purchases in-person and online

• helps build your credit

• your credit limit is decided by the credit card company

• has revolving credit

Multiple Choice

Which card is: easier to open as your first card, credit limit is equal to your refundable deposit, has less risk of over spending?

• Secured Card

• Unsecured Card

Multiple Choice

Which card is: harder to open as your first card, credit limit is set by the company, has a bigger risk of over spending?

• Secured Card

• Unsecured Card