Understanding Payment Cards Quiz

What is the primary use of a debit card?

• To withdraw money from your account or pay for goods and services

• To earn reward points

• To get a loan

• To invest in stocks

Where can debit cards be used?

• Only in banks

• At cash withdrawal machines (ATMs), in shops, or for online shopping

• Only for online shopping

• Only in shops

At what age can you start using a debit card?

• 11 years old

• 16 years old

• 18 years old

• 21 years old

What is an overdraft?

• A feature that allows you to withdraw money even if you don’t have enough in your account

• A type of loan for buying a house

• A reward program for frequent shoppers

• A savings account with high interest

What is the primary use of a credit card?

• To pay for goods or services in a specific shop

• To pay for goods or services even if there’s not enough money in your account

• To withdraw cash without any fees

• To save money in a bank account

Where can you use a credit card?

• Only in physical stores

• Only online

• Shops, online, or ATMs

• Only at ATMs

What is a requirement to apply for a credit card?

• Must be at least 16 years old

• Must have a job

• Must be at least 18 years old and pass credit scoring

• Must have a bank account

Which of the following is a feature of a credit card?

• No interest is charged on withdrawn cash

• Interest rates are always low

• You can spend money that you don’t have, but you’ll pay interest if you don’t pay it all back within an agreed time

• No fees for late or missed payments

What is the primary use of a store card?

• To pay for goods or services in a specific shop

• To pay for goods or services even if there’s not enough money in your account

• To withdraw cash without any fees

• To save money in a bank account

Where can you use a store card?

• Only in physical stores

• Only online

• In shops or online

• Only at ATMs