Ways to pay: cash, check, debit card, credit card and mobile payments

Grade 12 Social Studies Worksheet - Building Confidence

Circle the best answer.

1. Read this first

   Use this

   Cards A to D on losing a card and paying a bill (cards A to C are summaries; card D is made up). Card A, "Credit card loss rule". Source: Consumer Financial Protection Bureau, read November 2026. Summary in our words, not a quotation: If a lost credit card is reported before anyone uses it, the cardholder owes $0. If it is used before it is reported, the cardholder owes at most $50. If only the card number was stolen, the cardholder generally owes $0. Card B, "Debit card loss rule". Source: Consumer Financial Protection Bureau, read November 2026. Summary in our words, not a quotation: If a lost debit card is reported within 2 business days of learning of the loss, the cardholder owes the lesser of $50 or the amount taken. After 2 business days the cardholder can owe up to $500. If a charge on a statement goes unreported for 60 days, more than $500 can be lost. Card C, "Grace period". Source: Consumer Financial Protection Bureau, read November 2026. Summary in our words, not a quotation: Paying a credit card bill in full by the due date avoids interest on purchases. Paying only part means interest can be charged on what is left unpaid. Cash advances usually start charging interest on the day the cash is taken. Card D, "Four adults (made up)". Who made it: written for this sheet. Summary in our words, not a quotation: Case 1: A coach's credit card is lost and reported before anyone uses it. Case 2: A club advisor's debit card is used for $35 without permission. The advisor notices the same day and reports it the next business day. Case 3: Another advisor's debit card is used for $400. The advisor reports it on a Friday and says the loss was first noticed earlier that week. Case 4: Two bakery owners each buy $300 of supplies on a credit card. One pays the full $300 by the due date. The other pays $100.

2. 1.

   Milo reads cards A and B. Which statement about the two loss rules is right?

   • The credit card cap rises with a late report, but the debit cap stays the same
   • A credit card costs at most $50 and a debit card at most $500, however late
   • Both rules cap the loss at $50, and a late report changes neither cap in any way
   • Both rules cap what is owed, and the debit cap rises when the report comes late
3. 2.

   Pia applies card B to Case 2, a $35 debit loss reported the next business day. What is the most the advisor owes?

   • $0: a quick report costs nothing, as it does when a credit card is not yet used
   • $50: a debit loss costs the full $50 limit whenever the report is on time
   • $35, the lesser of $50 and the $35 taken, since the report was on time
   • $500: the limit that applies once the advisor knows the card is gone
4. 3.

   Ren wants the most the Case 3 advisor could owe on $400. Which missing fact would settle it?

   • Whether the advisor reported it by phone or online, since card B names a method
   • Whether any of the $400 was taken after 60 days, the time limit that matters most
   • The day the advisor first noticed the loss, as card B counts from learning
   • The day the card was used, since card B counts 2 business days from the charge
5. 4.

   Tala reads card C and Case 4 on card D. Which claim do they support best?

   • Only the owner who paid in full owes interest, since the whole bill came due
   • Both owners owe interest on purchases, since each had a bill that came due
   • The owner who paid $100 loses the whole $300 to interest, since a part payment is late
   • The owner who paid $100 can be charged interest on the rest; the full payer owes none

6. Use this

   Cards A and B on payment apps and scams (card A is a summary; card B is made up). Card A, "Payment apps and scams". Source: Consumer Financial Protection Bureau, read November 2026. Summary in our words, not a quotation: Scammers favor payments that are hard to trace or get back, including payment apps, wire transfers and gift cards. Money sent by app should go only to people you know and trust. A scam payment should be reported right away. Card B, "Three messages (made up)". Who made it: written for this sheet. Summary in our words, not a quotation: Message 1: A seller the family has never met posts two concert tickets for $180 and asks for payment by app before sending a photo of them. Message 2: A neighbor the family has known for years asks for $20 by app for lawn work done that day. Message 3: A caller says a prize will be released once the family buys $200 of gift cards and reads the numbers aloud.

7. 5.

   Message 2 asks for $20 by app. Luz applies card A. Which reading is best?

   • It is the riskiest message, since the neighbor wants the money by app on the same day
   • Card A calls any app payment a scam sign, so the family should refuse the three
   • It fits card A, since the neighbor is known and trusted; message 1 is the risky one
   • It is safe because $20 is small, as card A's test is the amount of money
8. 6.

   Zee reads message 1, where the seller says the tickets are real. Which fact would card A say to check first?

   • Whether the photo of the tickets looks professional and clear enough to trust
   • Whether the app is already on the family's phone and linked to an account
   • Whether the family knows and trusts the seller of the tickets
   • Whether $180 is less than the $500 limit that applies to a lost debit card
9. 7.

   Bo writes one claim from cards A and B. Which claim do the cards support best?

   • Anyone who pays by app or gift card will lose the money, as card A warns
   • Messages 1 and 3 ask for payment types card A warns about; message 2 does not
   • Message 3 is safe, because gift cards are not on card A's list of warning types
   • Message 1 is the one scam, since it alone asks for payment by a phone app

10. Use this

    Cards A and B on bank fees (both made up). Card A, "Fees at one bank (made up)". Who made it: written for this sheet. Table, columns Fee | Amount: cash from an outside ATM | $3.00 each withdrawal; cash from an inside ATM | $0; monthly maintenance | $6.00, waived when the balance stays at or above $500 all month; returned check | $32.00. Card B, "Two clubs' months (made up)". Who made it: written for this sheet. Summary in our words, not a quotation: Club 1 keeps $700 in its account all month and takes cash from an outside ATM 3 times. Club 2's balance falls to $320 for two days. It takes cash from an inside ATM 6 times and has one check returned.

11. 8.

    Kira adds up Club 1's fees from cards A and B. Which total is right, and why?

    • $3.00: one outside withdrawal is charged each month, and the others are free
    • $0.00: the balance stayed above $500, so no fee of any kind applies to Club 1
    • $15.00: three withdrawals at $3.00 each, plus the monthly maintenance fee of $6.00
    • $9.00: three outside ATM withdrawals at $3.00, and the maintenance fee is waived
12. 9.

    Esme totals Club 2's fees. Which total is right, and why?

    • $38.00: the $6.00 maintenance fee, as the balance fell under $500, plus the $32.00 check
    • $6.00: just the maintenance fee, since a returned check is not a fee of the bank
    • $32.00: just the returned check, since the balance fell under $500 for just two days
    • $56.00: six inside withdrawals at $3.00, plus the maintenance fee and the returned check
13. 10.

    Noah writes one claim from cards A and B. Which claim do the cards support best?

    • Fees at this bank cannot be avoided by an account holder, whatever the habits are
    • ATM use alone causes fees at this bank, so the clubs should change that habit
    • Club 1 paid more in fees than Club 2 did, because it used the outside ATM
    • Both clubs' fees came from habits they could change, such as ATM choice and balance