Credit Cards

This is the charge from a credit card company each year for use of that credit card.

Not all credit cards have this fee.

• Annual Fee

• Credit

• Minimum Payment

• Registration Fee

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CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

The amount of money owed on a credit card account.

• Credit Limit

• Balance

• Debt

• Minimum Fee

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It is a borrowed money that you can use to purchase goods and services for which you are agreeing to pay back over time. It is a promise that you make to pay someone later. A seller lets you have an item right now, and you promise to pay them back.

• Balance

• Loan

• Credit

• Credit card

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CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

This is a payment card in which the card company pays for an item and gives the customer the ability to pay off the full balance over time. The card essentially allows the cardholder to borrow money to make a purchase and charges interest until that amount is paid back in full.

• credit card

• Credit limit

• balance

• checking account

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CCSS.7.RP.A.2

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A credit card company set limits on how much you can charge on your card.

• Balance

• Minimum Fee

• Interest Rate

• Credit Limit

This card allows you to make purchases similar to a credit card and also gives you access to ATMs. It is the equivalent of writing a check but with the convenience of a credit card. This card when used deducts the specified amount directly from your checking account.

• Credit card

• Debit card

• Savings account

• Prepaid card

This the day your payment is due. After this, you may be charged a late payment fee

• interest rate

• due date

• penalty

• expiration date

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CCSS.L.6.4C

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CCSS.L.9-10.4C

This is the percentage of the credit card balance that you are charged when using a credit card. It is also referred to as Annual Percentage Rate (APR). Because you are borrowing money when you use your credit card, you are charged interest when you don’t pay the bill in full.

• interest rate

• interest frequency

• balance

• principal

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CCSS.7.RP.A.3

The least amount you can pay to keep the card active. If you pay less, your card will be deactivated.

• Maximum payment

• minimum payment

• interest rate

• amount due

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CCSS.5.NBT.A.2

What is represented by number 1?

• Security code

• account number

• routing numbers

• contact number