Credit or Debit?

A PIN number was used when making a purchase.

It can have an electronic chip.

No interest is charged because no money is borrowed.

You pay a TV. You will receive a bill for the TV at the end of the month.

This card is made of plastic.

When using this card the amount of cash is deducted immediately of your checking account.

The card was declined because of lack of funds in the account

It is like taking a loan that you need to pay later.

After a purchase, Emma was late making a payment and was charged a fee

You can check your transactions online

Linked to a checking or saving account.

It has a magnetic strip on the back

It is use to purchase goods and services.

You can get one when you turn 16 with parent approval.

If the total balance is not paid interests may be charged

You pay your groceries and the cashier gives you back $20.

Overdraft fees may be charged if you don't have sufficient funds when buying with it.

Use at an ATM to withdraw money.

Sometimes you require a signature to make a purchase.

If you pay your full amount of your purchases, the bank can give you rewards or points.

Banks will offer protection if lost or stolen.

Your money can be split into a checking and a saving accounts.

The longer it takes you to pay back the more it will cost you

Lee paid his purchases at full amount at the end of the month and increased his credit score.

If you use it wisely, it is very convenient.