Debit vs Credit Cards

A small plastic card with a specific account number

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

This card is linked to a checking account

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

Users can earn rewards like cash back or points toward travel

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

Users can set up a personal security code called a PIN number

• Credit

• Debit

• Both

Customers spend the money in their accounts at the time of purchase

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

Users borrow money on the card and pay it at a later time

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

CCSS.6.NS.C.6

Purchases are subject to interest charges if the balance is not paid in full

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

Transactions are recorded in a monthly statement

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

Users can sometimes be responsible for an annual fee or other penalties

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5

Card balances can be paid at the end of the month to avoid interest

• Credit

• Debit

• Both

Tags

CCSS.6.NS.C.5