Explanation:
Hello my wonderful student! A credit card lets you borrow money from the bank and pay it back later. You are doing such a great job learning about money!
What is a good rule for using a credit card?
Explanation:
Paying the full amount every month avoids extra interest. Excellent money habit!
What can happen if you don't pay your credit card bill on time?
Explanation:
You pay extra money called interest. You are learning responsibly!
Who usually decides if a child can have a credit card?
Explanation:
Parents and the bank decide together. Great safety understanding!
What is one danger of using a credit card too much?
Explanation:
It's easy to borrow more than you can pay back. Excellent observation!
What should you do before using a credit card?
Explanation:
Always check with a parent first. You are very responsible!
Why do many parents not give young children credit cards?
Explanation:
They can lead to borrowing too much. You are very wise!
What is a "credit limit" on a credit card?
Explanation:
It's the maximum amount the bank allows you to borrow. Excellent!
Credit cards can be useful for...
Explanation:
They can help in emergencies when used responsibly. Great understanding!
What should you do if you see a charge on a credit card statement that you don't recognize?
Explanation:
Tell an adult immediately so they can check. You are very responsible!
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