
Understanding Credit and Debit Cards

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Nancy Jackson
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is credited with creating the first credit card?
James Johnson
Frank McNamara
John Smith
Robert Brown
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if you spend more than your account balance with a debit card?
You receive a warning but no fee is charged
The bank covers the cost temporarily and charges an overdraft fee
The transaction is processed without any fee
The transaction is declined
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of a debit card?
It allows borrowing money from a creditor
It is linked directly to a checking account
It offers a revolving line of credit
It requires an annual usage fee
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a revolving line of credit?
A credit line that can be borrowed again as it is repaid
A credit line that increases with each payment
A credit line that resets annually
A credit line that decreases with each payment
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might someone choose to use a credit card instead of a debit card?
To avoid paying any fees
To have more time to pay for a large purchase
To earn interest on their purchases
To avoid having a credit limit
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