financial literacy part ii. credit cards a plastic card having a magnetic strip, issued by a bank or...
TRANSCRIPT
Financial LiteracyPart II
Credit CardsA plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit.
Used for everyday purchases
Make monthly payments
Interest RateAPR-Annual Percentage Rate
Amount charged monthly for using credit card
Varies in percentages and may hinder you from paying off the balance
May effect your credit, good or bad
How not to spend…
Only use if necessary
Just in case of emergency
Large purchases
How not to spend…
Don’t spend more than you actually have
Do you have a job?
Can you pay the bill every month?
Homework Assignment
Look up a particular credit card you could potentially apply for
Research the APR and the credit limit
Email me the results