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How to Use Credit and Debit Cards

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  • When can I use a debit card?
    Only when there is money in my bank account
  • Which card do you use to take $100 from your savings account.
    You are using a debit card.
  • Name 3 types of credit cards.
    AmEx, Visa, Mastercard, Discover
  • True or False - A credit card borrows money from a credit card company.
    True
  • The day you have to make your payment is the ________________.
    The due date.
  • What do you get from your credit card company each month?
    You get a bill or credit card statement.
  • You can get an ______________ if you need more money in your chequing account.
    an overdraft
  • A card that uses the money from your bank account.
    a debit card
  • You borrow money from this place.
    the credit card company.
  • When you buy something it is called a __________________.
    A purchase.
  • Anytime you use your overdraft you will have to pay _______________.
    a fee
  • You should pay the ____________ from your credit card statement each month.
    You should pay the balance from your credit card statement.
  • The smallest amount you should pay each month is?
    the minimum payment.
  • When you buy something with your credit card you ____________ money to the credit card company.
    owe
  • True or False - A debit card borrows money from a credit card company.
    False, a debit card uses money from a bank account.
  • If you don't pay your balance then you need to pay _______________.
    interest
  • What information does a credit card statement have in it?
    purchases, payments, refunds, payment due date, balance, minimum payment.
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