Paying with plastic

Numerica Credit Union explains the difference between debit cards and credit cards

Sponsored

Young people's financial future can be determined by good choices

Chances are if you looked in your wallet right now you could easily grab your debit card. If you needed your credit card, you'd know exactly which card to go for. However, our kids just see a world being paid in plastic, and the answer about which is the debit card and which is the credit card isn't so clear.

 “Paying with plastic is convenient. After all, who wants to carry around a bag of cash?” says Katie Scofield, Financial Education Officer at Numerica Credit Union. “These digital transactions have created a mask of how we use our money, leaving many youth and teens not understanding the difference between debit and credit cards.”

 Simply put, a debit card is connected to your checking or savings account. When you swipe or enter your card, you're taking money from your account to make a purchase. If you don't have enough money, your card may be declined.

A credit card lets you make purchases using a credit limit, a pre-approved amount of money. It's money you borrow from your bank or credit union and have to pay back with added interest.

 “Not all plastic is created equal. For many young spenders, learning about finance is a trial-by-fire experience. Understanding the difference between debit and credit cards could mean all the difference in someone's financial future,” says Scofield.

 You'll always have a relationship with money, why not make it a good one! Find more money tips to keep you living well at numericacu.com/youth.

 

Read More

MUST WATCH: Post Falls boy, 12, appears on Ellen DeGeneres Show

May 25, 2017 at 11:16 am | Coeur d'Alene Press Alex Knoll, a 12-year-old inventor from Post Falls, appeared on “The Ellen DeGeneres Show” today. See his reaction to being invited to appear on the show and his emotional discussion with the talk sh...

Comments

Read More

Take precautions recreating in the backcountry

May 25, 2017 at 5:00 am | Coeur d'Alene Press Even though summer-like weather has finally arrived in the low areas of Kootenai County, there are still several feet of snow in the higher elevations. Travel on the backcountry roads in the higher e...

Comments

Read More

Carousel opening just a couple weeks away

May 25, 2017 at 5:00 am | Coeur d'Alene Press COEUR d’ALENE — Cari Fraser’s aunts and uncles used to work at the Playland Pier in Coeur d’Alene. Their kids, she added, were able to enjoy attractions like a 20-horse carousel that was hand carved...

Comments

Read More

Consumer Guy: Please read this first before using Craigslist

May 25, 2017 at 5:00 am | Coeur d'Alene Press Craigslist is quickly jumping to the top of the list as a hideout for cheats, liars and scammers. Be hyper-aware if you’re using Craigslist. It doesn’t make any difference if you’re buying or selling...

Comments

Read More

Contact Us

(208) 664-8176
215 N. Second St
Coeur d'Alene, Idaho 83814

©2017 The Coeur d'Alene Press Terms of Use Privacy Policy
X
X