Credit Cards

How can you avoid paying interest on your credit card? 

Explain what happens if you make the minimum payment every month. 

Tags

CCSS.5.NBT.A.2

What is a line of credit?

• A line of credit, not a circle of credit

• The max you can spend in one month (determined by credit card company)

• Where credit starts

• Where credit ends

Name 3 benefits of having a credit card

A debit card is linked to your ____ _______

(a)  

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

You are billed monthly for using your debit card

• True

• False

How do credit card companies make money?

• By charging interest

• By dipping into peoples savings accounts

• Selling stocks

• Offering incentives

What's better? A higher or lower interest rate?

• Higher interest rate (%)

• Lower interest rate (%)

Tags

CCSS.7.RP.A.3

Draw a fixed interest rate vs a variable interest rate

Answer explanation

Yup! Fixed stays the same (anchor at the bottom of ocean or straight line) and variable changes (like the tides or ball going over waves)

Tags

CCSS.8.EE.B.5

Define principal, interest, and term in your own words.

Tags

CCSS.5.NBT.A.2