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Money is withdrawn directly from a checking or savings account.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.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

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