Debit vs Credit Cards Quiz

Debit vs Credit Cards Quiz

7th Grade

6 Qs

quiz-placeholder

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Debit vs Credit Cards Quiz

Debit vs Credit Cards Quiz

Assessment

Quiz

Life Skills

7th Grade

Practice Problem

Medium

Created by

Joslyn Dizon

Used 13+ times

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6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a debit card primarily used for?

Borrowing money from the bank

Spending money directly from your bank account

Earning interest on savings

Investing in stocks

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true about credit cards?

They allow you to spend only the money you have in your account

They provide a line of credit to borrow money

They are only used for online purchases

They do not affect your credit score

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an interest rate?

The fee charged for using a debit card

The percentage of a loan charged as interest to the borrower

The amount of money you earn from a job

The cost of opening a bank account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of using a debit card?

It helps build your credit score

It prevents you from spending more than you have

It offers rewards and cashback

It allows you to borrow money

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements is true about debit cards?

They charge interest on purchases

They are linked directly to your bank account

They require a credit check to obtain

They offer a line of credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if you do not pay your credit card bill in full each month?

You earn more rewards

You are charged interest on the remaining balance

Your credit limit increases automatically

Your account is closed immediately