Credit and Debit Cards

A credit card can be issued by a ...

• Bank

• Store

• Financial Institution

• All are correct

A credit card allows you to ______ funds to pay for goods and services.

• Borrow

• Use

• Take

Advantages of using a credit card are...

• building credit history

• often includes rewards

• offers better fraud protection

• can easily create debt

Grace Period: Amount of time you have to pay off your purchases before you owe interest.

• True

• False

When you borrow cash from your credit card account it is called a ____.

• Grace Period

• Cash Advance

• Interest

• Credit Limit

Which card requires you to use a PIN when making a purchase?

• Credit

• Debit

Credit cards require a _____ when making a purchase.

• PIN

• Account number

• Signature

Your credit score will give the financial institution information about how likely you are to ______.

• Pay back debt

• Make purchases

• Pay bills on time

• Spend money

How often can you get a free credit report?

• Once a year

• Every 6 months

• Once a month

• Every two years

Which of these are considered when calculating your credit score?

• How often you pay bills on time

• How much debt you owe

• Length of credit history

• Your age