Credit Cards Spend…Spend…Spend. UEQ and LEQ UEQ: How can JA Finance Park teach you to use financial institutions to your benefit? LEQ: What is a Credit.

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Presentation transcript:

Credit Cards Spend…Spend…Spend

UEQ and LEQ UEQ: How can JA Finance Park teach you to use financial institutions to your benefit? LEQ: What is a Credit Card? How is a Credit Card similar to and different from a Debit and ATM Card?

Vocabulary Credit Credit Card Impulse Spending Debt Late Fees Credit Score

Five Minute Free Write Writing in complete sentences, while watching your spelling, grammar, and punctuation, you will be given 5 minutes to write anything and everything you can about credit cards. – (Hint: What you know, what you don’t know, who uses them, who does not, why have them, dangers that go along with having them, and any other peace of information that you can think of and write about.)

Game Time We will now play “Gotta Have It” The class will be divided into teams. Teams will work out of their work books to win. Four rounds will be played in the game. Listen carefully to the directions that I give you.

WorkBook Warm Up How many credit cards can you name? – Write them down in your notes. How many credit card logos can you identify? – Study the following pictures as I go through them to see if you know.

Card One…

Card Two…

Card Three…

Card Four…

How Many Do You Need?

Credit…What is It??? Credit is the total dollar amount given to a person (with trust) by a person or business (lender.) – Credit is a Loan

Positives of Credit Building block to establishing a high credit score. – Number used by financial institutions to determine if you are trustworthy with money.

Credit Score: Key Points One: Two: Three: Four:

Negatives of Credit Overusing credit, not paying bills can lead to financial ruin. – Low credit score makes it hard to get loans. – Repo to the Rescue Repo to the Rescue

Credit Cards: Main Purpose Most widely used form of credit. Extension of getting a loan, can take money with you on a card. Easy access money for emergencies. – Review Credit Card Statistics Handout What is so interesting about credit cards? Homer and Mastercard

Positives of Credit Cards What are your own personal reasons why you may want to get a credit card? Look at the View of Credit Cards handout. – In your own opinion, what are the top four reasons to have and use a credit card? Underline the reasons on the sheet you think are most important.

Dangers of Credit Cards In your own opinion why is having a credit card dangerous? Write down your opinion. – Bart's Impulse Spending Bart's Impulse Spending Credit Cards are dangerous because of Interest. – Building Interest Building Interest Read over “Protecting Credit Card Activities Handout” – How can you protect yourself?