Payment Types

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Credit Limit

The amount of money you can charge to a credit card is called

Which of the following is true of both paying with a check and paying with a debit card?

Debit Card

Which payment type is best if you are trying to stick to a budget?

Credit Card Balance

What is the amount of money you still owe to their credit card company called?

Means you are paying a small portion of your total credit card debt

Making a minimum payment……

paper, plastic, and electronic

What are three major options for payments?


Which of the following payment types require you to pay upfront? A) Money orders & credit cards B) Money orders & pre-paid cards C) Merchant cards & credit cards D) Merchant cards & pre-paid cards

Statements II & III

Which of the following statements are TRUE about credit cards? I. When you use a credit card, the money comes directly out of your account. II. Credit cards typically offer more fraud protection than debit cards. III. Transactions made with a credit card can impact your credit score.


is accepted by most businesses and individuals.


approves a certain amount of money to come out of your account.

Bouncing a Check

If you write a check and you don’t have the amount to cover it, it’s called….

Cashier’s check

comes directly out of your bank account, usually for a fee.

Money Orders

can be purchased outside of your bank.

Money Order

are paid upfront, so they cannot be bounced.


1 Credit or Debit: your transactions can improve or damage your credit history.


2 Credit or Debit: your transactions don’t affect your credit history.


3 Credit or Debit: offers you protection againts fraud.


4 Credit or Debit: typically offers you less protection


5 Credit or Debit: you can buy things that you don’t have the money for or might not be able to afford.


6 Credit or Debit: you can only buy things based on the money you have in your account.


7 Credit or Debit: sign your name to finalise a purchase.


8 Credit or Debit: enter a PIN to finalize a purchase.


9 Credit or Debit: which payment method offers you most fraud protection when you’re in vacation?


10 Credit or Debit: which payment method would you want when is you want purchases to come straight from your checking account so that you always know how much you have in the bank?

prepaid crad

payment methods that protects you from the possible cost of spending more money than you have available.

reload fees

All of the following are fees typically charged by credit card companies EXCEPT:

Annual Percentage Rate

is the interest rate charged by your credit card on any balance not paid off before the next billing cycle.

annual membership fee

some cards charge you special fees such as ….

airline miles discounts; cash back

some cards offer reward like ? or ? to get people to sign up or use a particular credit card.

credit limit

the amount of money you can charge to your credit card.

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