Methods of Payments (Junior Cert Home Economics): Flashcards
📚Flashcards
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13 cards from this deck
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Practise the cards
13 cards from this deck
Advantage of paying with cash
Advantage of paying with cash
Less likely to overspend
Disadvantage of paying with cash
Disadvantage of paying with cash
Not secure; unlikely to be recovered if lost/stolen
Main feature of credit cards
Main feature of credit cards
Buy now, pay later
Credit card advantage if bill paid in full
Credit card advantage if bill paid in full
No extra interest charged
Credit card disadvantage: interest rates
Credit card disadvantage: interest rates
High interest rates make goods cost more
Credit card risk if bills not paid on time
Credit card risk if bills not paid on time
Debt can build up
What PayPal hides from sellers
What PayPal hides from sellers
Your card details
PayPal advantage
PayPal advantage
Reduces risk of online fraud
PayPal disadvantage
PayPal disadvantage
Can encourage impulse buying (quick and easy)
Tap payment limit for debit cards
Tap payment limit for debit cards
€30
Debit card security advantage
Debit card security advantage
Can be blocked if stolen
Debit card disadvantage: spending tracking
Debit card disadvantage: spending tracking
Easy to lose track of spending
Ireland 2016: debit cards vs. cash milestone
Ireland 2016: debit cards vs. cash milestone
Debit card payments exceeded ATM cash withdrawals