Credit Cards and Debt #1

What is the average number of credit cards that people have?

Why are credit cards being used more often than in the past? SELECT ALL THAT APPLY

• convience

• safer to carry

• easier to carry than cash

• allow people to buy things they coulnd't normally afford

What can credit cards do to your financial health?

• they can give you opportunities to over-spend

• they can put your finances in danger

• they can help your finances by allowing easier purchases

• they give your finances security because cash is easier to steal

Shortly after you open a credit card account, what often occurs? SELECT ALL THAT APPLY

• you start getting more credit card offers in the mail

• your credit score goes up because you have documentation of spending/repayment

• you are more likely to open more accounts which leads to more purchases

• your credit score goes down because you have too many credit cards open

Before you know it, what could easily happen with credit cards? (3 words--it snowballs into this) *spelling counts

What is the average family's amount of credit card debt?