TEST #10 Review: Financial Literacy

A small plastic card with a specific account number

• Credit

• Debit

• Both

Users can earn rewards like cash back or points toward travel

• Credit

• Debit

• Both

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

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

• Credit

• Debit

• Both

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

• Credit

• Debit

• Both

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

• Credit

• Debit

• Both

Users can ask for cash back at the time of purchase

• Credit

• Debit

• Both

This card can be used at an ATM to withdraw cash from a checking account

• Credit

• Debit

• Both

Users are limited to a specific amount called a credit limit

• Credit

• Debit

• Both