Font size
WorksheetsCredit and Debit Cards
Total questions: 25
Worksheet time: 34mins
Your mom goes to the ATM at the bank and withdraws $300 from her checking account with her card.
Debit card
Credit Card
Your grandmother takes you out for pizza for your birthday. She pays with a card and the money comes out of her checking account.
Debit card
Credit Card
Debit card
Credit card
My credit history DOES affect my loan options for the future.
Why is it important to establish positive credit history?
Higher credit scores result in lower interest rates on loans
You are more likely to be offered a loan by a bank
Positive credit history results in higher credit scores
All of the above
Users can earn rewards like cash back or points toward travel.
Credit
Debit
Both
Users can sometimes be responsible for an annual fee.
Credit
Debit
Both
Card balances must be paid on the due date to avoid high interest.
Credit
Debit
Both
What do you call the cost you pay each year to borrow money, expressed as a percentage?
Interest
Credit card
Debt
Balance
When do you have to pay interest on purchases?
When you do not pay your full balance when its due.
When you purchase any items online
When you pay it annually
3 of these are advantages of Credit cards. Which is NOT an advantage?
You can't go into debt
You can earn rewards
You can have better warrants on certain purchased items
You can see your credit score for free
3 of these are advantages of Credit cards. Which is NOT an advantage?
There is better fraud protection than many debit cards offer
Credit Cards are always free to have.
You can build credit history to help with loans in the future.
You may need one to rent a car
3 of these are advantages of DEBIT cards. Which is NOT an advantage?
You can't go into debt.
There's no annual fee associated with the card.
It may help you limit your impulse spending.
You can get rewards like travel points.
3 of these are advantages of DEBIT cards. Which is NOT an advantage?
If someone makes purchases with your card, it's borrowed money so you have time to dispute the charges.
Allows you to purchase goods and services.
You can get cash back at the store
You can get cash out of your bank's ATM for free.
Mr. Granberg just loves to spend money! She wants to have every pants suit out there. A couple new cars wouldn't hurt while She's at it. What type of card would you recommend to her? Be ready to share why later.
Which is better? Debit or credit? Give at least one reason why.
Mrs. Jepson says ________ is the best choice for spending starting out.
credit card
debit card
both
neither
Which card will prevent debt?
debit
credit
