Debit
When paying for purchases with a debit card, the money comes out of this.
What is a checking account?
Yes or No: Debit card users pay interest.
This is the term for the lowest amount you can pay on your credit card monthly.
What is a minimum payment?
True or false? You should always pay more than a minimum payment on a credit card.
True. Paying more than your minimum payment helps you avoid interest.
What is Luke 12:15?
When a person tries to charge more money to their debit card than they have in their checking account, they receive this.
What is an overdraft fee?
These are two things that debit cards can be used for.
What is withdrawing money and making purchases?
Consumer ________ can have profitable uses.
What is credit?
True or false? Credit cards are bad and you should never use them.
False! Credit cards can help you build credit, which allows you to be able to borrow money for expensive things like houses and cars. A good credit score can also be important for renting an apartment.
Financier of the American Revolution
Who is Robert Morris?
This is the downside of using a debit card at an ATM that is not part of your bank.
What is fees?
Much of today's consumption borrowing results from either covetousness or a lack of ______________
What is financial planning?
Yes or no: Making the minimum payment on your credit card every month is borrowing responsibly.
What is no?
True or false? All credit cards offer rewards.
False- only some credit cards offer rewards like cash back or airline points. If this is important to you, make sure you look for cards that offer rewards that are important to you.
Goods that increase in value over time
What are appreciating assets?
If your debit card is stolen you should do this.
What is lock your card and call your bank?
You should keep track of your debit card spending in this.
What is online statement/ online banking/ banking app?
Yes or No: You can you use your credit card for overdraft protection.
What is yes?
The calculated use of debt to purchase goods that will increase in value.
What is Investment Borrowing?
Congress passed this act requiring creditors to disclose certain information about loan terms, and also regulates the advertisement of those credit terms.
What is the Truth in Lending Act?
This is how you protect your fees yourself from overdraft fees.
What is checking your online statement?
This is what you should do before traveling out of the country.
What is calling your bank and letting them know where you are going?
APR stands for this.
What is Annual Precentage Rate?
Using debt to purchase good that you will be using right away.
What is Consumption Borrowing?
False, the love of money is the root of all evil.