Credit/Debit/Prepaid

Benefits of credit cards include:

• safe and convenient, bonuses are offered
• allows you to build a positive credit report
• needed for reservations and online shopping
• all of these

Over time, people who pay off their credit card balance in full every month will pay less in interest on their credit card.

• true
• false

A credit score of 800 is considered _____

• Poor
• Fair
• Good
• Amazing

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CCSS.RI.11-12.4

CCSS.RI.7.4

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Why is it important to have good credit?

• Buy candy
• Buy school supplies
• Start a business
• Buy groceries

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What if I have bad credit?

• High interest rates on loans
• You can easily be approved for a loan
• You have a high credit score
• You may have to live with Mr. Trump.  

If you have bad credit, it maybe ...

• harder to obtain a mortgage loan
• ok
• likely for you to get a better paying job
• easier to get a credit card

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CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

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My credit history does not affect my chances for renting my first apartment.

• True
• False

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Routinely paying my bills late could negatively affect my credit history.

• True
• False

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The amount you must pay on a credit card, based on a percentage of the outstanding balance.

• minimum fee
• minimum payment
• monthly statement
• minimum monthly interest charge

This is a fee that some, but not all, credit card issuers charge to use their credit card.

• APR
• annual fee
• monthly fee
• non-sufficient funds fee