Debit Cards Vs Credit Cards.

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| By Gretchen Anderson

Gretchen Anderson

Community Contributor

Quizzes Created: 1 | Total Attempts: 2,791

Questions: 5 | Attempts: 2,823 | Updated: Jan 18, 2023

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Questions and Answers

1.

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
- A.
  
  He can use his credit card to buy the living room set now.
- B.
  
  He can save money and pay cash for the living room set at a later date.
- C.
  
  He can use his debit card to buy the living room set now.
- D.
  
  He can save money and use his debit card to buy the living room set at a later date.
Correct Answer
C. 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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2.

When I use my credit card the amount used come directly out of my bank account.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

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

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3.

Which statement best describes purchases made with a credit card?
- A.
  
  Purchases made with this card are subject to no interest charges.
- B.
  
  Purchases made with this card can be paid over time.
- C.
  
  Purchases made with this card are withdrawn directly from your bank account.
- D.
  
  This card is issued by your financial bank.
Correct Answer
B. Purchases made with this card can be paid over time.

Explanation
Credit cards can paid over time with monthly payments.

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4.

Debit cards can affect your credit score? True or False
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

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

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5.

Which statement is truce about debit cards.
- A.
  
  May cause unnecessary debt.
- B.
  
  May have an annual fee.
- C.
  
  Does not affect your credit score.
- D.
  
  Pay interest on all purchases made.
Correct Answer
C. Does not affect your credit score.

Explanation
Debit cards will not affect your credit history.

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Current Version
Jan 18, 2023

Quiz Edited by
ProProfs Editorial Team
Jun 12, 2018

Quiz Created by
Gretchen Anderson

Debit Cards Vs Credit Cards.

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

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

Which statement best describes purchases made with a credit card?

Debit cards can affect your credit score? True or False

Which statement is truce about debit cards.