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Credit Cards
Debit Cards
Vocabulary
Savings Account
Checking Accounts
100
You are actually borrowing money from a credit card company when you purchase something using a credit card
True
100
Who distributes debit cards? Companies or the bank?
The bank
100
What is the word that means adding money to your checking or savings account?
Deposit
100

True or False: Savings accounts pay you interest. 

True. 

100
Money in your checking account should be used for emergencies only. True or False
False- checking account money should be used for everyday things, like bills or money to go out to dinner
200
A credit card company will send you a bill how many times per month?
Once or every 30 days
200
Debit cards affect your credit. True or False
False
200

A fee paid to you for keeping your money in an account OR a fee charged to you for a loan or credit card

Interest

200

Some banks have a number of ______________ (taking money out of the account) is limited with a savings account or you will be charged a fee.

Withdrawals

200
The money that you get out of the ATM comes from this account: checking or savings
Checking
300
What is an example of a credit card company/provider?
American Express, Discover, Mastercard
300

True or false: Banks will charge you a fee for over drafting your checking account. 

True. 

300

What is the machine that you can use to withdrawal money from your checking account? 

ATM

300
The primary purpose of a savings account is to spend money for everyday things like bills. True or False
False- the purpose of a savings account is to save money
300
You can take money out of your checking account _________ many times per month
Unlimited- you can take money from your checking account as many times as you want every month
400
What is the money that you pay for every dollar that you spend? Usually represented by a percent. When you sign up for a credit card, this is the __________ rate that you will pay per month.
Interest
400
When you purchase something with your debit card, the money you spend does not come out of your account until the end of the week. True or False
False: the money comes out of your account immediately
400

What type of interest in a savings account that pays you INTEREST on your INTEREST?

Compound Interest

400

Name 3 different Savings accounts. 

Traditional, CDs, Money Markets, High Yields, Health Savings. 

400

What are 3 ways you can check your bank account? 

In person, on a computer, or mobile device. 

500
True or False: The most responsible way to pay off a credit card bill is to pay the most you can every month.
True
500
When you use your debit card, you are taking money out of which account? savings or checking
Checking Account
500
What is the amount of money that you have in your bank account?
Balance
500

Savings accounts, in most banks, are insured up to $250,000. Which company insures these accounts? 

FDIC- Federal Deposit Insurance Corporation. For a qualifying savings account at an insured bank, the FDIC covers your deposits up to this amount per depositor.

500

List 3 security risks when accessing your checking account. 

Using Public Wifi, Not protecting your pin, having a weak password.