Credit and debit cards Quiz Welcome to your Credit and debit cards Quiz Please click "Next" Choose the best answer What is a credit card? It's a card that lets you collect points It's a card that lets you borrow money from the bank It's a card that lets you use your savings from the bank Choose the best answer What is a debit card? It's a card that lets you withdraw funds from your own savings account It's a card that lets you borrow from the bank even if you have no savings It's a gift card Choose the best answer If you use a credit card, do you pay a transaction fee for every purchase you make with a card? Yes No Choose the best answer If you fail to pay the balance on the credit card at the end of each month, what does the lender do? Calls you and offers more money Charges you daily interest on the balance you owe Forgives you and offers another credit card Choose the best answer There is often a transaction fee when you use a debit card to pay for something.What is "a transaction fee"? It is a certain amount of money you need to pay for using a debit card It is a fee the bank pays you for every transaction you make It is a fee you need to pay for being able to keep your money in the bank Time is Up! Time's up
