1. Take a guess to win candy…
What is the average credit card debt per family in America?
$7,115!

2. Managing Credit Cards

3. Important Credit Card Terms
Annual Fee
Cost of just having the card for a year
Annual Percentage Rate (APR)
Yearly interest rate
Applied when you don’t pay off the full monthly balance
Can be variable or fixed
Variable = it can change (up or down)
Fixed = it stays the same

4. Important Credit Card Terms
Minimum Payment
The smallest amount you can pay without being considered late on your payments
Credit Limit
The maximum amount you may charge to your card

5. Choosing a Card Comparison shop
Look for cards with low or no annual fees
Look for cards with low APR rates
Consider whether any incentives are outweighed by the annual fees/high interest rates
Cash back, air miles, gift incentives

6. Credit Card: Do’s Save receipts
Pay as much of your balance as you can (ideally, the full balance)
Pay bills on time

7. Credit Card: Don’ts
Max out your card

8. Quick Review
When would a credit card with cash back incentives not be worth using?
How much of your monthly balance should you try to pay every time?
If the annual rate/interest rate outweighs the incentives
As much as possible