Debit Cards vs Credit Cards

Why use a credit card over a debit card?

• You can build credit

• You can earn rewards

• You can pay less than you owe

• All of the above

What is a credit card "minimum"?

• The most you can spend in a month

• The amount you need to spend every month

• The least amount you need to pay back each month

• The penalty for being late on a payment

What happens when you spend more than you have with a debit card?

• Your card will be cancelled

• You will "overdraft"

• You need to just pay the minimum

• Your credit score will go down

Overdraft applies to...

• Debit cards only

• Credit cards only

• Both

• Neither

Each month you should...

• Use your credit card points

• Only use credit when needed

• Only use debit when needed

• Pay full credit statement if you can

What can credit card points go towards? (select multiple)

• Tuition

• Airline Miles

• Rent

• Discounts at stores and restaurants

What will NOT hurt your credit score?

• Missed payment

• Late payment

• Early payment

• Having too many credit cards

What is a credit limit?

• The most you can spend on a credit card

• The amount you need to spend

• The amount you should spend

• The amount that you can overdraft

A debit card is...

• Connected to your savings account

• Connected to your checking account

• The bank's money, not yours

• Money you will owe

Which is true?

• You should have multiple debit cards

• You can only have 1 credit card

• Debit cards don't require monthly payments

• All credit cards have minimums