review lesson two what is a debit card? how does it differ from an atm card?
TRANSCRIPT
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Review Lesson Two
What is a debit card? How does it differ from an ATM
card?
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Lesson Three: Credit Cards
Objective:Students will identify what a
credit card is and some advantages of using credit.
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Introduction:Consumers’ use of credit to buy goods and services is growing at a staggering rate. Once used primarily for large-ticket items, credit is now used for virtually everything. With a credit card, you buy now and pay later, at the end of the month.
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Credit- the amount of financial trust extended to a person or business by a lender.
What is Credit?
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• Credit is a loan• It can be of great help to a smart
money manager • can serve as a building block to
establish a great credit history. • It also can be a trap leading to
financial ruin. Credit must be used with caution and managed carefully.
It is essential that credit is used wisely!
What is Credit?
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Credit is the amount of financial trust extended to a person or business by a lender.
Credit card- a card authorizing the holder to buy good and services that can be paid for later
Interest- payment for the cost of using someone else’s money, usually expressed in an annual percentage rate
Vocabulary
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Partner Activity
• Take turns reading the bulleted ideas on View of Credit Cards from the common Drive.
• Make a list of the 9 advantages to using a credit card on your notes page.
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Open file on common drive called “Let’s Explore Credit”
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VideoCredit Card Debt Explained With a Glass of Water
http://www.youtube.com/watch?v=Vz05A6cP6Iw
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Small Group ActivityScenarios
Complete the 3 Scenarios on pages 14-16 of your workbook in your group. Questions should be answered on a Word Document. This will be printed and collected for a grade.
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Summary
What is an advantage to using a credit card?
What is a disadvantage to using a credit card?