Debit vs Credit Card – Financial Literacy Handout
- Grades
- Grades 5–10, Elementary, Middle School, High School
- Pages
- 4
- File type
- Answer key
- Included
- Subject
- Special Resources, Life Studies, Life Skills, Math, Money, Finance, Home Economics
- Topic
- financial literacy, debit card
- Resource types
- Worksheets & Printables, Worksheets
- Answer key
- Included
About this resource
What's inside this resource
Where the money comes from, when you pay and what each card can cost: a three-row comparison chart opens this debit vs. credit card worksheet and sets up 18 numbered items for grades 6–9. Students match short stories to five money words (minimum payment, overdraft fee, credit limit, due date and interest), then rewrite two mistaken sentences so they are true.
On page 2, students sort six statements by card type and as a pro or a con, then read a one-month credit card statement to find the balance due, the room left under the credit limit and the reason no interest was charged. Page 3 has two money stories: a $200 purchase paid with only the minimum, with 2% monthly interest added, and a debit card purchase followed by a second one the account cannot cover. A list of three smart card habits ends with an exit ticket.
- Grades 6–9 financial literacy: 18 items across 3 student pages
- Key: a teacher page with answers to Parts A through E and the exit ticket guidance
- Your choice of file: color, or black and white for low-ink printing
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In the classroom
Teaching tips & learning objectives
Learning objectives
Explain the difference between paying with a debit card and borrowing with a credit card
Define minimum payment, overdraft fee, credit limit, due date and interest
Weigh the pros and cons of each card type, including fraud risk and credit history
Teaching tips
Read the comparison chart together; students use it again to fix the mistaken sentences in Part B
Walk through the statement layout before Part D so students can find the summary, purchases and due date
Point out that Maya's problem gives both a 2% monthly rate and the 24% yearly rate, and that students use the monthly rate
Skills covered
Financial vocabulary: students match mini stories to five common card terms.
Correcting misconceptions: students rewrite false statements about how debit and credit cards work.
Comparing options: a sorting table asks which card each statement describes and whether it helps or hurts.
Good to know
Questions teachers ask about this resource
Which card terms do students learn?
Minimum payment, overdraft fee, credit limit, due date and interest, plus credit history in a tip on page 2.
What does the card statement task ask?
Students read a sample April statement to add up the month's purchases for the balance, find how much more can be charged before the credit limit and explain why the interest line shows $0.00.
How hard is the math?
Students add and subtract dollar amounts and find 2% of a balance. Each story in Part E has a work box.
Is there an answer key?
Yes. A teacher page gives the answers to every part, with sample responses for the written items.
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Resource details
Concepts & topics
Core concepts
Core concepts
debit cards
credit cards
interest
credit limit
financial literacy
Topics
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