Debit Cards Vs Credit Cards.

1. Debit cards can affect your credit score? True or False

True

False

Debit cards do not appear on your credit history or affect your credit score.

Explanation

Debit cards do not appear on your credit history or affect your credit score.

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... see moreoptions, impacts on bank accounts and credit scores, providing valuable insights for financial literacy. see less

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.

Debit cards will not affect your credit history.

Explanation

Debit cards will not affect your credit history.

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

True

False

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

Explanation

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

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.

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.

Explanation