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Financial Literacy Part II. Credit Cards A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services.

Published byLorena Owens Modified over 8 years ago

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Presentation on theme: "Financial Literacy Part II. Credit Cards A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services."— Presentation transcript:

1 Financial Literacy Part II

2 Credit Cards A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit. Used for everyday purchases Make monthly payments

3 Interest Rate APR-Annual Percentage Rate Amount charged monthly for using credit card Varies in percentages and may hinder you from paying off the balance May effect your credit, good or bad

4 How not to spend… Only use if necessary Just in case of emergency Large purchases

5 How not to spend… Don’t spend more than you actually have Do you have a job? Can you pay the bill every month?

6 Homework Assignment Look up a particular credit card you could potentially apply for Research the APR and the credit limit Email me the results

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