Credit vs. Debit

Money is withdrawn directly from a checking or savings account. 

• Credit
• Debit
• Both

Each purchase is a loan that is repaid later.

• Credit
• Debit
• Both

Consumers can purchase items now and pay for them later

• Credit
• Debit
• Both

Large fees may be charged if you spend more than what is in YOUR ACCOUNT.

• Credit
• Debit

Convenient to use.

• Credit
• Debit
• Both

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

• Credit
• Debit
• Both

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

• Credit
• Debit
• Both

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

• Credit
• Debit
• Both

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

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
• Credit
• Both
• Walk Home

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

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

• Credit
• Debit
• Both