UNDERSTANDING CREDIT AND CREDIT
CARDS
Credit cards, like loans, allow you to build up a credit history. This
may help you with credit related activity such as getting a student loan, car loans, renting an apartment, or buying a house. Credit cards are also convenient since they provide a reduced need to carry cash or checks, and provide security in case of an emergency.
However, credit cards are not for everyone, and if you have one you need to act responsibly. You need to be able to afford a credit card, and also
need to try to pay off the balance each month. The over-use of credit cards has been a major reason why so many individuals have too much debt, and why bankruptcy rates are high.
Consumers are bombarded with offers from credit card companies, offering various incentives and interest rate options. For those that fall into the credit trap, being in debt seems almost forever. Meanwhile, high interest charges and late payment fees eat up most of their available money. Many credit card holders do not even know how much they are paying in interest, and what impact it has on their overall financial well-being.
Use the following lessons to help teach and learn credit card basics:
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CREDIT CARDS
- LESSONS AND WORKSHEETS |
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INTRODUCTION TO CREDIT CARDS |
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Introduction to Credit Cards
A worksheet introducing students to credit cards, credit, and paying interest. |
CREDIT CARDS AND HOW
THEY WORK |
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Credit Cards and How
They Work
Students learn how
credit cards work.
Learn about the concept
of credit, and how you
are charged for using a
credit card. Also
information on debit
cards. |
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CASH VERSE CREDIT |
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Cash verse Credit 
An introduction to the concept of using cash verse using credit cards. Students learn why credit cards may be good or bad, depending on how they are used. |
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CHOOSING THE RIGHT
CREDIT CARD |
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Choosing the Right Credit Card
Students learn important
criteria for choosing a
credit card and the
importance of using
credit wisely. |
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READING A CREDIT CARD STATEMENT |
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Reading a Credit Card Statement
An introduction to reading a credit card statement. Learn to read and identify the important items on a monthly credit card statement. |
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CREDIT CARD STATEMENT INCORRECT TRANSACTIONS |
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Credit Card Statement - Incorrect Transactions
Advanced practice reading and correcting a monthly credit card account statement. Students must identify and correct their monthly statement. |
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INFORMATIONAL ARTICLES
ON CREDIT CARDS AND
CREDIT |
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Using Credit Cards
Advantages and
disadvantages of using
credit cards.
Using Credit Wisely
Learn why we have such poor
credit habits, and what we
can do to use credit wisely.
Federal Protections for
Credit Card Users
Understand your
Federal protections for
consumer credit card
holders.
How to Prevent Credit Card
Fraud
Here is some helpful
information on preventing
credit card fraud.
What's your Credit Score?
Understand your credit score
for applying and qualifying
for a mortgage loan.
More
on Credit Cards,
Consumer Credit, and
Debt Management
Informational resources on using credit cards wisely, credit repair, reducing credit card debt, basics on understanding credit reports, tips, advice, and help for managing debt, debt consolidation, student loans, understanding bankruptcy, how to consolidate credit, and more.
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More Teaching Earning
and Spending Money Worksheets and Lessons
For more material on money, personal
finance, money management, business education, careers, and life skills, please go to the Money
Instructor home page.
Learn all
about using credit and credit cards.