L115| Session 15 |- Payment Gateways and Card Mistakes

Is it a wise decision to make only your minimum monthly payment for your credit card?

• Yes

• No

VISA is a company that issues

• Debit cards

• Smart cards

• Prepaid cards

• Credit Cards

Banks make money through credit cards in the form of

• Interest

• Interchange fees

• Card fees

Samuel was shopping online. He paid the amount. At the end of the month he received a bill stating an amount which he owes.

Can you identify the payment card that he was using?

• Debit card

• Credit card

What are the advantages of having a credit card

• Most credit cards come packed with offers and incentives to use your card.

• Credit card deducts money directly from your bank account to pay for a purchase.

• You get to use your card now and pay for your purchases later

The bank branding i.e the logo of your bank is seen on which side of your debit card?

• Front side

• Back side

Common mistakes that we must avoid while using credit card are:

• making minimum monthly payments only.

• using debit card

• Being late on your payments

• taking cash advances and spending money on things that we don't need