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Payment Types – Everfi terms and answers to learn
Cashier’s check
Pre-paid card
All of the above
B. Your Annual Percentage Rate will increase
C. You may be in debt for a long time
Low balance transfer fee
Lots of credit card rewards
A large credit limit
You can be charged a fee if you’re late making a monthly payment
Offer highest level of fraud protection
Best payment type to use when sticking to a budget
Annual membership fee
Balance transfer fee
Minimum payment fee
Annual membership fee
Balance transfer fee
Annual Percentage Rate
When used, both take money directly from your account
A personal identification number must be anytime checks or debit cards are used
Both work like a loan from your bank that you can pay back later
Checks are the most widely accepted form of payment
Debit Cards often have a higher interest rate than Credit Cards.
Debit cards offer the highest level of fraud protection.
Debit cards typically offer greater fraud protection than credit cards.
Debit cards never require a signature to finalize a purchase like credit cards.
Debit cards charge higher interest rates on purchases than credit cards.
Cashier’s checks
Pre-paid cards
Payday loans
You lose reward points
Your APR will increase the next month
Both A and B
Missing a credit card payment
Paying off the full balance
Cashing in on rewards points
Payment Types Everfi Reflection
The whole point of this class is to help you out in your life. Therefore, you are going to respond in a blog following the basic guidelines to apply the information to your life.
Before: What did I know about types of payment before this module?
During: What specifically did I learn about while studying this module?
At least answer these guiding questions.
- What are all the benefits of using cash?
- What are all the disadvantages?
- Where can you not use it?
- How does a debit card work?
- Why would you use it instead of cash?
- How does a credit card work?
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