Credit Card vs. Debit Card

Purchase is withdrawn directly from a checking or savings account. 

• Debit card
• Credit card
• Both

Each purchase is a loan that is repaid later

• Debit card
• Credit card
• Both

You can purchase an item now and pay for it later.

• Debit card
• Credit card
• Both

Interest may be charged.

• Debit card
• Credit card
• Both

It requires the use of a PIN when making a purchase. 

• Debit card
• Credit card
• Both

If the card is lost or stolen, report it immediately.

• Debit Cards
• Credit Cards
• Both

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• An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.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.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.5

I will get a bill at the end of the month for this card

• Debit Card
• Credit Card
• Both

More useful when you are short on cash in an emergency.

• Debit card
• Credit card
• Both

You can be charged a late fee if the payment is not made within the due date.

• Credit card
• Debit card
• both