IXL | Debit cards and credit cards

Daniel treated his coworkers to lunch. It cost a total of $50, and he paid using his credit card.

Will the money come out of Daniel's bank account within a few days?

yes

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Learn with an example

question

Jacob buys a season pass to Tall Point Mountain so he can ski as often as he wants this winter. The season pass costs $225, and Jacob pays for it using his credit card.

Which statement is true?

$225 will be removed from Jacob's bank account within a few days.

$225 will not be removed from Jacob's bank account at this time. Instead, he can pay it off over time, possibly with interest.

key idea

When you use a credit

card,

you can buy items now but pay for your purchase later. You'll get a monthly statement for the money you owe. If you don't pay the full amount, you might have to pay interest on the remaining balance. You might also pay an annual fee for the credit card.

solution

Since Jacob uses his credit card to buy the season pass, the money will not be removed from his bank account at this time.

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