Consumer Mathematics Checking Accounts

Checking Account and Debit vs. Credit Cards

By Cindy Cruz

Checking account and debit vs. credit cards

• Buy now, pay later

• ​Interest charged if borrowed amount is not fully repaid

• Spending limit

• ​Withdrawal fee

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​Credit Cards

• $ removed immediately from bank account

• ​linked to a checking or savings account

• ​withdraw cash

• spend only what you have in you​r bank account

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​Debit Cards

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• a bank account

• ​can make deposits or withdrawals from your account

• ​can transfer funds ($)

• balance your account with ​a check registrar

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​Checking Accounts

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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(n)______.

• Checking Account

• Credit Card

• ATM

• Chic-fil-a

Multiple Select

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

• Google Classroom Account

• Savings Account

• Checking Account

• None of these

Poll

I would much rather have a _____

• Credit Card

• Debit Card