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Credit vs. Debit Cards
Game Code: 354936
English
16
Public
Credit & Debit Cards
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petersl
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This is the minimum amount of money you have to pay each month to stay in good standings with the credit card company
Minimum Payment
20
What are you charged if you carry over a balance each month?
Interest Rate/ APR
15
This is maximum amount of money you can charge to your credit card
Spending Limit/ Credit Line
25
Interest rates for credit cards are ______.
High
10
Whose money is associated with a debit card?
It is your own money
10
Which card keeps a running balance all month and then send a bill at the end of the month?
Credit Card
10
What age do you have to be to apply for a credit card?
18
10
If you have a bank account you can get a ______ card.
Debit
5
True or False - Your credit score is randomly assigned to you
False
10
What is one benefit to having a high credit score?
Answers will vary
25
What is one downfall to having a low credit score?
Answers will vary
25
At what age can you start developing a credit score independently?
18
15
When you owe someone money you are in ________.
Debt
5
When you have a credit card or loan you are _______ money from a bank or credit card company.
Borrowing
10
At the end of each month the credit card company will send you a _______ that informs you of all the transactions from that month.
Statement
20
True or False- a transaction can take 3-5 business days to post to your account.
True
15
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