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Financial Literacy Flashcards | StudBud

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Financial Literacy

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Questions 12

Answers

1
True or false. cash can be a form debit
False
True
2
What are some advantages to having a credit card?
Offers More Protection Than A Debit Card
Easy To Carry Around
Easily Obtainable
Helps Build Credit
3
What is interest?
The Amount Of Money You Get Back At The End Of The Year
The Charge For The Privilege Of Borrowing Money
Taxes That Are Paid By People 21 And Over
The Curiosity Of Knowing Something
4
What are some disadvantages of having a credit card?
spending is limited
you have to pay it back
having a card is easy to lose
it can damage credit history
5
What is needed in order to obtain a debit card?
No Account Is Necessary For A Debit Card
Requires A Savings Account
have to be 16 years or older
Must 18 Years Or Older
6
What is needed in order to obtain a credit card?
Full Name
Date Of Birth
Need To Be 18 Years Or Older
Social Security Number
7
What are some advantages to having a debit card?
Limited amount of money from the bank
having free money from the bank
Easily Accessible
Helps Build Credit
8
What is credit?
Allows You To Purchase Now And Pay Back Later
Allows You To Stress Out
Allows You To Make Purchases Using Your Checking Account
Allows You To Buy Anything You Want. Free Money!
9
What is Debit?
Any Form Of Payment
Your Money
A Card
Someone else's bank
10
What are some disadvantages of having a debit card?
Must Actively Monitor
Can Ruin Credit History
Increases Interest Rate
There Are No Disadvantages To Having A Debit Card
11
how many people can you have on checking account
No one
2 people
Only one
3 or 4
12
True or false. you can have a debit card from your savings account.
False
True