Debit Cards Vs Credit Cards.

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| By Gretchen Anderson
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Gretchen Anderson
Community Contributor
Quizzes Created: 1 | Total Attempts: 2,974
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  • 1/5 Questions

    Debit cards can affect your credit score? True or False

    • True
    • False
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About This Quiz

This quiz titled 'Debit Cards vs Credit Cards' explores key differences between debit and credit card usage, focusing on implications for personal finance. It assesses understanding of payment options, impacts on bank accounts and credit scores, providing valuable insights for financial literacy.

Debit Cards Vs Credit Cards. - Quiz

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  • 2. 

    Which statement is truce about debit cards. 

    • May cause unnecessary debt.

    • May have an annual fee.

    • Does not affect your credit score.

    • Pay interest on all purchases made.

    Correct Answer
    A. Does not affect your credit score.
    Explanation
    Debit cards will not affect your credit history.

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  • 3. 

    When I use my credit card the amount used come directly out of my bank account. 

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Credit cards can be used now and paid later, they do not come directly out of your bank account.

    Rate this question:

  • 4. 

    Mr. Anderson wants to buy a new living room set, but he does not have enough money in his bank account to pay for one. Which of these is NOT an option for Mr. Anderson

    • He can use his credit card to buy the living room set now.

    • He can save money and pay cash for the living room set at a later date.

    • He can use his debit card to buy the living room set now.

    • He can save money and use his debit card to buy the living room set at a later date.

    Correct Answer
    A. He can use his debit card to buy the living room set now.
    Explanation
    The question is asking which can Mr. Anderson NOT do. When you use your debit card that comes out of your bank immediately and being he does not have the money for the living room set now then he is unable to use his debit card.

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  • 5. 

    Which statement best describes purchases made with a credit card? 

    • Purchases made with this card are subject to no interest charges.

    • Purchases made with this card can be paid over time.

    • Purchases made with this card are withdrawn directly from your bank account.

    • This card is issued by your financial bank.

    Correct Answer
    A. Purchases made with this card can be paid over time.
    Explanation
    Credit cards can paid over time with monthly payments.

    Rate this question:

Quiz Review Timeline (Updated): Jan 18, 2023 +

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  • Current Version
  • Jan 18, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 12, 2018
    Quiz Created by
    Gretchen Anderson
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