Using Money pps. 16-29

What can you do with the Automated Teller Machine?

• deposit money

• withdraw money

• both answers

What do you need to do if you lose your credit card?

• wait till someone else uses it

• cancel your card

• get a different card from another company

What does it mean when your credit card is "maxed out"?

• you can keep using it even without paying the bill

• you can throw it away and not pay the money back

• you can't use it anymore till you pay some of the bill

What is the biggest advantage of online banking?

• convenience

• Internet access

• you can get up to date information

What is a debit card?

• a card that borrows money from the bank

• a card that is the same as using cash

• a card that has money you can use for free

What was an example, in the story, of a limit that a credit card might have?

• $5000

• $2000

• $1000

How old do you have to be to apply for a credit card?

• 16

• 17

• 18

How are credit cards dangerous?

• both answers

• people can use a credit card to buy items and then not be able to pay it back

• people do not realize how high the interest rate is

What is the code, you put into a machine, called so you can use your debit card?

• EFT

• ATM

• PIN

What is a savings account for?

• for someone else to use it

• setting aside money to use later

• spending money now