Credit and debit, credit report

Money is withdrawn directly from a checking or savings account.

• Debit Card

• Credit Card

• Both

Each purchase is a loan that is repaid later.

• Debit Card

• Credit Card

• Both

Consumers can purchase items now and pay for them later.

• Debit Card

• Credit Card

• Both

Convenient to use.

• Debit Card

• Credit Card

• Both

A PIN (Personal Identification Number) MAYBE required to make a purchase.

• Debit Card

• Credit Card

• Both

Answer explanation

Some debit cards do not require a PIN to make purchases.

Credit cards NEVER require a PIN to make a purchase.

A checking account is a personal bank account which you can take money out of at any time using your cheque book or cash card.

Eric purchased a movie ticket with his card. This money will come straight out of his checking account. What card did he use?

• Debit Card

• Credit Card

• Both

A checking account is

• An interest bearing account where your deposit remains for a set period of time
• An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
• A computer that checks your email account

I will get a bill at the end of the month for this card

• Debit Card
• Credit Card
• Both

“I have $360 in my checking account, so that is the most I can spend using this card.”

• Debit
• Credit
• Both

 “I don’t have any cash with me, so I’ll pay using this card.” 

• Debit 
• Credit
• Both