Payment Methods

Question 1

Checks (advantages)

Answer 1

Can be mailed
Easily traced
Carbon Copy
Alternate payment method

Question 2

Checks (disadvantages)

Answer 2

Must be purchased
Bounced Checks-Fee
Postage required to mail
Not accepted everywhere

Question 3

Credit Cards (advantages)

Answer 3

Convenient/quick
Repay over time
Accepted most places
Linked to credit score
Theft protection

Question 4

Credit Cards (disadvantages)

Answer 4

Fees/Interest
More difficult to track
Credit Limits
Application Required
Bank info. compromised if lost or stolen

Question 5

Debit Cards (advantages)

Answer 5

Convenient/quick
Money withdrawn quickly
Accepted most places
No application required
Incentives offered

Question 6

Debit Cards (disadvantages)

Answer 6

Fees/ATM
Not linked to credit score
Limits within certain time period
Bank info. compromised if lost or
stolen

Question 7

Electronic Payments (advantages)

Answer 7

Convenient/quick
No postage necessary
Can set as recurring payments

Question 8

Electronic Payments (disadvantages)

Answer 8

Bank info. compromised if unsecure website used

Question 9

Payment Methods

Answer 9

Check
Credit card
Debit card
Electronic payments