At the Bank
Oh No!!
Check Mate
Writing a Check
Credit Me
100
The pin is typically used when dealing with which kind of card?
A debit card.
100
Something you pay when you borrow money
Interest
100
When depositing a check it HAS to be ____ before the funds are deposited.
Indorsed (Signed on the back)
100
What does the number in the top right corner of the check mean?
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The check number.
100
What is a credit score?
A credit score is a number that strongly indicates to lenders and creditors how likely you are to pay back debts that you owe. The higher your score, the more likely you are to be approved for credit.
200
How often do you receive your bank statement?
Monthly.
200
What is it called when you don't have enough money in your bank account?
Insufficient funds.
200
How can you maintain accurate records of the funds in your bank account (without using online banking)
Balancing a checkbook.
200
If you make a mistake on a check or just decide you don't need to use it, what is the proper way to dispose of it?
Write VOID in large letters over the check. This prevents anyone else from being able to cash/use the check.
200
Why is it important to have a good credit score?
The importance of a good credit score is because it determines a lot of things like getting other credit cards, loans, being approved for a rental, and it factors into how much your interest rate will be and how much you will qualify for. Your credit score is something that is always going to be with you once you establish credit so you need to make wise choices and decisions with your finances.
300
When depositing funds into your checking account, what form do you fill out?
A checking deposit form/slip.
300
What is it called when you take money out of your checking/savings account?
Withdrawing/ withdraw.
300
What are 2 ways you can deposit a check?
1. At the bank (in person)
2. Banking app (Take a picture of front and back)
300
What are the 2 different ways you write the total amount of funds being given through your check?
1. Number form ($8.15)
2. Written out. (Eight dollars and 15/100)
300
What is considered a good credit score?
(Hint: credit scores range from 350-850)
A good credit score is considered 640 or higher.
*No credit is worse than having a bad credit score!*
400
What do you need to open a checking account?
(Hint: 3 things)
1. Social Security card
2. Valid government issued ID
3.Minimum opening deposit of $25.
400
What is it called when someone pretends to be you and steals from you?
Identity theft.
400
When you receive your paycheck after depositing it what should you do?
Save the pay stub.
400
What does the "memo" section on a check mean?
To write what the check is for.
(ex: school lunch, car payment, phone bill).
400
What can your credit score affect?
Credit scores can affect your eligibility and interest rate on any loan you apply for, your employment opportunities, and even your car insurance premiums. It is very important to maintain a good credit rating!!!!!!
500
What does ATM stand for?
Automated Teller Machine.
500
When you don't pay your credit card bill before the due date this happens
You are charged a late fee.
500
What happens if you write a check for someone knowing there is no money in your account?
This is illegal. Writing a bad/hot check can lead to a possible misdemeanor or a felony charge.
500
What do the numbers on the bottom left of a check mean?
Your routing number and your account number.
500
How can you build your credit score?
(hint: 5 are listed)
1. Get 1 credit card and use it wisely.
2. Maintain a low balance.
3. Make monthly payments that are on time or early.
4. Do not let anyone run your credit, every time your credit is run it damages your score. (ex: financing, applying for a new line of credit, etc.) Even checking your own score can affect your credit.
5. Don't pay off your entire balance at once. Prove you can make on time payments.