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Real Stories

Debit vs. Credit Card

Materials Needed:
"T chart", chart paper, markers, tape (easel if there is limited wall space)

On board or chart paper set up a chart with two columns labeled "Credit Card" and "Debit Card." Each column should be further divided into "Benefits" and "Costs."

After distributing a copy of the T Chart to each participant, the facilitator should direct participants to label their handouts following the above directions and begin filling in the chart. One possible response might include: A Credit Card benefit would be the ability to purchase an item when you do not have the money. The cost would be the possible additional fee if the money is not paid back in the allotted time.

Facilitator should allow participants to spend adequate time to fill in this chart, based on information in Amanda's story.

Facilitator Tip: This activity is based on Chapters Two and Three.

The facilitator should conclude this activity by:
Compiling data on his/her chart for class examination and discussion of the similarities and differences between credit and debit cards. Discuss the pros and cons of each type of card.