Credit and Debit

A debit card allows for an immediate electronic transfer of money from a cardholder's savings or checking account.

• True

• False

A debit card is handy in an emergency when you don't have the money to spend.

• True

• False

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Your aunt buys you a new outfit for the first day of school. She pays with a card and tells you she’ll pay for it at the end of the month when she gets her bill. 

• Debit card
• Credit card

If the card is lost or stolen, report it immediately.

• Debit Cards
• Credit Cards
• Both

Convenient to use.

• Credit
• Debit
• Both

 “I had to sign my receipt when I used this card.”

• Debit
• Credit
• Both

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

 “I want to pay for these groceries right now instead of getting a bill in the mail later this month.”

• Debit
• Credit
• Both

Routinely paying my bills late could negatively affect my credit history.

• True
• False

Tags

CCSS.RI.6.1

CCSS.RI.6.8

CCSS.RI.7.1

CCSS.RI.7.8

CCSS.RL.6.1

When I apply to borrow money for a car, the loan company will most likely look at my credit history.

• True
• False

Tags

CCSS.6.SP.B.5

A credit report contains my personal information such as my address and social security.

• True
• False

Tags

CCSS.RI.5.7

CCSS.RI.6.7

CCSS.RI.7.7

CCSS.RL.5.7

CCSS.RL.6.7