Credit and Debit Cards

Credit and Debit Cards

7th Grade

25 Qs

quiz-placeholder

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Credit and Debit Cards

Credit and Debit Cards

Assessment

Quiz

Social Studies

7th Grade

Practice Problem

Hard

Created by

John Robinson

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How are credit cards and debit cards different?

they are exactly the same

a credit card is a loan, while a debit card deducts money directly from your checking account

a credit card allows you to purchase gas only

a debit card is a loan, while a credit card deducts money directly from your checking account

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A card that allows the holder to buy goods and services by taking out a bank loan.

Checking account

Bank

Economy

Credit card

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A card that allows customers to electronically and immediately withdraw funds from their accounts, either in cash or to purchase goods or services.

Checking account

Economy

Bank

Debit card

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A type of bank card which allows the holder to borrow money in order to make payments

credit card

bank card

debit card

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Credit cards and Debit Cards are the same.

False

True

6.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Interest is charged if balance is not paid each month.

Debit Cards

Credit Cards

Both

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which card takes money directly out of your bank account?

Debit Card

Credit Card

Niether

Both

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