Credit vs. Debit Cards | Baamboozle - Baamboozle

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Credit & Debit Cards

Study Slideshow

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