Credit or Debit?

Which type of card is directly linked to your bank account?

• Credit card

• Debit card

Which type of card is borrowing money that you have to pay back later?

• Credit card

• Debit card

Which type of card pulls money that you already have directly out of your bank account?

• Credit card

• Debit card

Tags

CCSS.6.NS.C.5

Which type of card will charge fees if there is an unpaid balance at the end of the month?

• Credit card

• Debit card

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.RP.A.3

Which type of card limits you to the money in your bank account?

• Credit card

• Debit card

Which type of card allows you to spend more money than you have in your bank account?

• Credit card

• Debit card

Tags

CCSS.6.NS.C.5

Which type of card will charge late fees if not paid on time?

• Credit card

• Debit card

Which type of card gives you cash back at a grocery store (if you have funds) without charging you a fee?

• Credit card

• Debit card

How do banks make money off of the credit they issue?

• They charge a large, one-time fee at the start of the loan

• They take out a small fee each month from your checking account

• They charge a high interest rate on the loan

• This is a trick question - they DON'T make money!

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

To "debit your account" means to "subtract money from your account."

• TRUE

• FALSE

Tags

CCSS.7.NS.A.1

CCSS.7.NS.A.3