Shroutrageous: Credit

Front

The ability to borrow money is called

Back

credit

Front

A credit card

Back

gives you permission to buy something now and pay it back later

Front

A debit card

Back

automatically deducts money from your bank account

Front

What is an advantage of using a credit card?

Back

It can help build up a good credit score.

Front

What is a disadvantage of using credit?

Back

You often have to pay interest or extra fees, which can make things more expensive.

Front

Which of the following is a potential risk of using a credit card?
Options:
Building a good credit score.
Overspending and accumulating debt.
Having a fixed spending limit.
Receiving monthly statements.

Back

Overspending and accumulating debt.

Front

What is the primary purpose of a debit card?

Back

To make purchases using funds directly from your bank account.

Front

If someone has an emergency and needs money, is it better to use their emergency savings or a credit card?

Back

It's better to use emergency savings, which is why you should save.

Front

What is a credit report?

Back

A record of someone's financial history, showing if they can be trusted with credit.

Front

Why is it a problem to have a bad credit score?

Back

You might not get a loan for a house or a car.