Questions: Question 1 (1 point) If an amount is directly deducted from your checking account when you swipe your card at the store, which type of card are you using? gift card debit card credit card Question 2 (1 point) Which is an advantage of using a credit card? You don't indulge in impulse buying You don't have to pay interest You can make purchases even when you don't have cash Question 3 (1 point) Which is a disadvantage of using credit? You can build your credit history You make fewer purchases You pay more because of fees and interest Question 4 (1 point) What is the total account debt as of the statement date called? APR Balance Finance charges

Question 1 (1 point) If an amount is directly deducted from your checking account when you swipe your card at the store, which type of card are you using? gift card debit card credit card Question 2 (1 point) Which is an advantage of using a credit card? You don't indulge in impulse buying You don't have to pay interest You can make purchases even when you don't have cash Question 3 (1 point) Which is a disadvantage of using credit? You can build your credit history You make fewer purchases You pay more because of fees and interest Question 4 (1 point) What is the total account debt as of the statement date called? APR Balance Finance charges
Transcript text: Question 1 (1 point) If an amount is directly deducted from your checking account when you swipe your card at the store, which type of card are you using? gift card debit card credit card Question 2 (1 point) Which is an advantage of using a credit card? You don't indulge in impulse buying You don't have to pay interest You can make purchases even when you don't have cash Question 3 (1 point) Which is a disadvantage of using credit? You can build your credit history You make fewer purchases You pay more because of fees and interest Question 4 (1 point) What is the total account debt as of the statement date called? APR Balance Finance charges
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Solution

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Solution Steps

Step 1: Determine the type of card used when funds are directly deducted from checking

When an amount is directly deducted from your checking account when you swipe your card, you are using a debit card.

Step 2: Identify an advantage of using a credit card

An advantage of using a credit card is the ability to make purchases even when you don't have cash.

Step 3: Identify a disadvantage of using credit

A disadvantage of using credit is that you pay more because of fees and interest.

Final Answer:

  1. Debit Card
  2. You can make purchases even when you don't have cash
  3. You pay more because of fees and interest
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