A card is not extra money. It is a promise to pay later.
A card is not extra money. It is a promise to pay later.
The card company pays the café first. Ben pays the company later, in one bill at the month's end.
Pay it all on time and there is usually nothing extra. Pay only part, and the rest is a loan with a small charge called interest.
The café pays the card company a small fee. Cards changed from cardboard to plastic with a stripe to a chip.
These are some of the questions on the sets. The printable sheets have more and an answer key.
2. 6 − 4 = 2.
Interest. The company adds a small charge to a loan, and that is interest.
The card company. The company pays the café first, and Ben pays it later.
No. A card gives no extra money. It is a promise to pay later.
With a grown-up, look at a card bill or a receipt. What is listed on it, and when is it due?
Look at a real card bill or a shop receipt together: what is listed, and when is it due? Keep it a calm look at how paying later works, not about your own family's money.
