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Debit Cards Vs. Credit Cards 22

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Which type of card is borrowing money that you have to pay back later?

a)

Credit card

b)

Debit card

2.

Which type of card pulls money that you already have directly out of your bank account?

a)

Credit card

b)

Debit card

3.

Which type of card will charge fees if there is an unpaid balance at the end of the month?

a)

Credit card

b)

Debit card

4.

Which type of card is directly linked to your bank account?

a)

Credit card

b)

Debit card

5.

Which type of card is normally free if you keep a minimum balance in your bank account?

a)

Credit card

b)

Debit card

6.
Each purchase is a loan that is repaid later
a)
Debit card
b)
Credit card
c)
Both
7.
You can purchase an item now and pay for it later.
a)
Debit card
b)
Credit card
c)
Both
8.
If the card is lost or stolen, report it immediately.
a)
Debit Cards
b)
Credit Cards
c)
Both
9.
It requires the use of a PIN when making a purchase. 
a)
Debit card
b)
Credit card
c)
Both
10.
A checking account is
a)
An interest bearing account where your deposit remains for a set period of time
b)
An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
c)
A computer that checks your email account
11.
More useful when you are short on cash in an emergency.
a)
Debit card
b)
Credit card
c)
Both
12.
“My bill is due the 15th of every month.”
a)
Debit
b)
Credit
c)
Both
13.
“I have $360 in my checking account, so that is the most I can spend using this card.”
a)
Debit
b)
Credit
c)
Both
14.

Which card is a loan from a bank?

a)

Credit

b)

Debit

15.

When you use a credit card you are using _____________.

a)

Ms. Hillary's money

b)

the bank's money

c)

your money

16.

When you use a debit card you are using __________.

a)

the bank's money

b)

your parent's money

c)

your money

17.

If you make purchases on a credit card you have to _________.

a)

pay the money back to the bank

b)

write it in your checkbook register

c)

ask your mom to pay the bill

18.

The fee that credit cards charge customers for using their money is called ___________________.

a)

rent

b)

deposit

c)

interest

19.
Your mom goes to the ATM at the bank and withdraws $300 from her savings account with her card. 
a)
Debit card
b)
Credit Card
20.
How can a cardholder avoid paying interest on a credit card?
a)
Do not pay anything
b)
Pay the minimum payment after its due date
c)
Pay the minimum balance every month
d)
 Pay the balance in full every month