Methods of Payment Quiz

Often have a limit that you can spend per day. Must pay at the end of each month, or you will have to pay interest.

• Apple Pay

• Gift Card

• Debit Card

• Credit Card

The extra money that you must pay your credit card company if you don't pay your bill in time.

• Dividends

• Interest

• Overdraft Fees

• Bonds

Take money directly from your bank account to pay for things you may buy.

• Debit Card

• Credit Card

• Overdraft Fees

• Gift Card

Becoming less common as time goes on. May not be accepted at every store.

• Credit Card

• Debit Card

• Cash

• Gift Card

May be useful when sending money to family and friends. Most stores do not take this form of payment.

• Electronic Transfer

• Check

• Money Order

• Gift Card

Which item is important to consider when selecting a credit card?

• Annual Percentage Rate (APR)

• Fees

• The look of the credit card

• Both APR and fees

What is the best strategy to avoid paying interest on your credit cards?

• Pay the minimum balance each month

• Pay the full balance each month

• Have credit cards from two different banks

• Make payments online

No interest.

Can Not Build Credit

Allows you to withdrawal money from an ATM

Always using your own money

Interest/Late Fees

Builds Credit

Requires you to closes monitor the balance

The Bank lends you money

What is a common feature of a debit card?

• Allows you to borrow money

• Directly linked to your bank account

• Offers reward points

• Requires a monthly fee