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
   • Both rules cap the loss at $50, and a late report changes neither cap in any way
   • A credit card costs at most $50 and a debit card at most $500, however late
   • The credit card cap rises with a late report, but the debit cap stays the same
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?

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

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

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

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

   • The owner who paid $100 can be charged interest on the rest; the full payer owes none
   • 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

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 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
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?

   • Messages 1 and 3 ask for payment types card A warns about; message 2 does not
   • Anyone who pays by app or gift card will lose the money, as card A warns
   • 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

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
    • $15.00: three withdrawals at $3.00 each, plus the monthly maintenance fee of $6.00
    • $0.00: the balance stayed above $500, so no fee of any kind applies to Club 1
    • $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
    • $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
    • $32.00: just the returned check, since the balance fell under $500 for just two days
13. 10.

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

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