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?

   • Both rules cap what is owed, and the debit cap rises when the report comes late
   • 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
3. 2.

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

   • Both owners owe interest on purchases, since each had a bill that came due
   • Only the owner who paid in full owes interest, since the whole bill 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

4. 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.

5. 3.

   Jun reads cards A and B. Which warning sign from card A do messages 1 and 3 share?

   • Each asks the family to pay on the same day, which card A names as a sign
   • Each comes from someone the family knows and trusts, which card A treats as a sign
   • Each asks for a payment that is hard to trace or get back once it is sent
   • Each asks for more than $100, and card A names $100 as the line to watch
6. 4.

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

   • 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
   • 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
7. 5.

   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 family knows and trusts the seller of the tickets
   • Whether the app is already on the family's phone and linked to an account
   • Whether $180 is less than the $500 limit that applies to a lost debit card
8. 6.

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

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

9. 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.

10. 7.

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

    • $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
    • $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
11. 8.

    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
    • $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
    • $6.00: just the maintenance fee, since a returned check is not a fee of the bank
12. 9.

    Club 2 says moving to inside ATMs saved it money. Ari asks which missing fact is needed to say how much.

    • What Club 2 paid in ATM fees before the move, as the cards show this month only
    • How many inside withdrawals Club 1 made, as Club 1 uses the same bank as Club 2
    • What the returned-check fee will be next year, as Club 2 had a returned check this month
    • What the maintenance fee is, as it changes with the kind of ATM a club uses
13. 10.

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

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