Credit vs. Debit Cards

Which card typically charges higher transaction fees for purchases?

• Credit card

• Debit card

• Both charge the same

• Neither charges transaction fees

What determines the amount you can spend with a credit card?

• Your credit limit

• Your available balance in the bank account

• The amount of cash you have on hand

• Your monthly income

What does the available balance on a debit card depend on?

• Your credit score

• The amount of money in your bank account

• Your credit limit

• The bank's discretion

How can using a credit card impact your credit score?

• It has no impact

• Only negatively, through late payments

• Positively, if used responsibly; negatively, if not

• Only positively, by increasing your credit limit

Which card directly withdraws money from your bank account at the time of transaction?

• Credit card

• Debit card

• Both

• Neither

What happens if you try to spend more than your credit limit on a credit card?

• The transaction is declined

• You are charged a fee

• It increases your credit limit

• Both A and B

Can using a debit card help improve your credit score?

• Yes, always

• No, it has no impact on your credit score

• Yes, but only in certain conditions

• It depends on the bank

Which card might offer rewards or cash back on purchases?

• Credit card

• Debit card

• Both

• Neither