Financial Literacy by Alexis Stokke https://padlet.com/astokke1/vxgocaeawj5h Differences and similarities between credit and debit cards en-us 2018-12-14 15:25:44 UTC 2018-12-18 15:36:07 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png What is a credit card? astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/314694349 A credit card allows you to buy things by borrowing money from the bank. You have to pay back the borrowed money within a certain amount of days, otherwise you will have to pay interest too.]]> 2018-12-14 15:38:10 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/314694349 What is a debit card? astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/314696440 A debit card takes the money right out of your own checking account. ]]> 2018-12-14 15:42:30 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/314696440 Pros of a credit card astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/314699371 -fast to use/ easy access
-if you pay money back on time it could boost your credit
-don't have to carry cash

]]> 2018-12-14 15:48:45 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/314699371 Cons of a credit card astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/314702071 -might not pay attention to how much you actually spend
-fees and interest expenses could get high
-easily get into debt by not paying off fees monthly]]> 2018-12-14 15:53:57 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/314702071 Cons of a debit card astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/314703958 -doesn't improve your credit
-less protection than a credit card
-keep track of statements, you may have unknown transactions]]> 2018-12-14 15:57:39 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/314703958 Pros of a debit card astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/315205506 -keeps you in budget because the money is directly taken out of your account
- you don't need credit to get a debit card
-can get cash back]]> 2018-12-17 15:34:37 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/315205506 Which is better, credit or debit card? astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/315216741 A credit card is better for most purchases, it has more protection than a debit card. A debit card is better though for cash with drawls and helps stay out of debt.]]> 2018-12-17 15:55:30 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/315216741 How old do you have to be to get a credit card? astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/315557738 To get a credit card you need to be at least 18, unless you are emancipated you can get one younger but you need to have a steady income.]]> 2018-12-18 15:28:10 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/315557738 How old do you have to be to get a debit card? astokke1 https://padlet.com/astokke1/vxgocaeawj5h/wish/315559107 You need to be 18 to have your own debit card. If you are between the ages of 13-17 then you would have to have the card under a joint account with a parent or guardian. ]]> 2018-12-18 15:30:46 UTC https://padlet.com/astokke1/vxgocaeawj5h/wish/315559107