Debit & Credit Cards

A checking account is

• An interest bearing account where your deposit remains for a set period of time
• An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
• A computer that checks your email account

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

A debit card is a buy-now, pay-later payment type with a grace period for payments.

• True

• False

An example of a financial institution is:

• A department store

• A bank

• A school

• An ATM machine

Which is a disadvantage of a credit card?

• Credit cards are buy-now, pay later

• Credit cards provide preapproved credit

• Credit cards charge interest

• Credit cards are the best way to pay for something online, because you can dispute a the charge

Debit Card or Credit Card?

Interest is charged if the amount is not fully repaid.

• Debit Card

• Credit Card

Debit Card or Credit Card?

When a purchase is made, money is immediately removed from a linked account.

• Debit Card

• Credit Card

Debit Card or Credit Card?

Has an assigned spending limit.

• Debit Card

• Credit Card

Debit Card or Credit Card?

Allows you to buy something now and pay for it in the future.

• Debit Card

• Credit Card

Debit Card or Credit Card?

Best to be used in an emergency situation.

• Debit Card

• Credit Card

Debit Card or Credit card?

Each purchase is a loan that is repaid later.

• Debit Card

• Credit Card