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Personal financial literacy Flashcards | StudBud

Explore/Personal financial literacy

Personal financial literacy

10 terms·StudBud Administration·15 plays

#PFL #banks #creditvsdebit

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Questions 10

Answers

1
One benefit of a credit card is...
You use a pin number.
It takes it out of your bank.
It is hard to steal your identity.
You can pay it off at the end of each month.
2
Josh forgets to pay his credit card bill this month. What will happen?
The credit card company will charge an interest fee.
The credit card will forgive him.
The bank will take away his home.
Nothing.
3
If you write checks a lot, you need a bank...
does not allow check writing
that offers free check writing
gives you a debit card
charges for each check you write
4
A credit card can...
take money from your bank account
allow you to go over your limit
charge you an interest fee and a late fee.
use a pin number
5
A deposit is...
when the credit card charges you money.
when money is taken out of the account.
when money is added to the account
when you use the pin number
6
Which one allows you to enter a pin number to purchase items?
passport card
credit card
debit card
7
Bob wants to buy a new tv but it costs $800 dollars. He uses a credit card. How will this help?
He may have to pay an interest fee.
He will take money out of his bank.
He will get declined.
He can buy now and pay later.
8
A debit card can NOT...
charge a penalty if you go over your balance
take cash out in ATMs
buy now and pay later
take money straight out of your bank
9
If Parker uses online banking, how will this help him?
He can write more checks.
He can quickly see his expenses and spending.
The bank will charge him to use the internet.
10
When you use a debit card, you can see your money leave your bank account.
Yes, that's true
No, you pay it back later.