 Go to my website under Chapter 7 Resources and select “Credit Card Project”  Follow directions to create a short PowerPoint to be graded in class – 3 slides. DO NOT PRINT  Activity 1: Find 2 different credit cards and research their features. Create a slide for each card (2 slides)  Activity 2: Go to linked website and calculate how long it will take you to pay off your debt (1 slide)  Go to my website under Chapter 7 Resources and select “Credit Card Project”  Follow directions to create a short PowerPoint to be graded in class – 3 slides. DO NOT PRINT  Activity 1: Find 2 different credit cards and research their features. Create a slide for each card (2 slides)  Activity 2: Go to linked website and calculate how long it will take you to pay off your debt (1 slide)

 Find credit cards from 2 different banks on (i.e. PNC, Chase, Citibank, Wells Fargo…)  Look at stated Terms for each card Click “Apply Now” (but don’t finish it!) and look through “Terms and Conditions”  For each card, make a slide and list the following: (2 slides) 1.Bank and Card name 2.Regular APR (minimum to maximum) 3.Annual Fee 4.Purchase and Balance Transfer Introductory offers (Intro Offers) and how long 5.Rates and fees for Balance Transfers that are NOT part of the Intro Offer 6.Any Rewards details (cash back, airline miles, etc.) 7.Late Payment Fees?  Find credit cards from 2 different banks on (i.e. PNC, Chase, Citibank, Wells Fargo…)  Look at stated Terms for each card Click “Apply Now” (but don’t finish it!) and look through “Terms and Conditions”  For each card, make a slide and list the following: (2 slides) 1.Bank and Card name 2.Regular APR (minimum to maximum) 3.Annual Fee 4.Purchase and Balance Transfer Introductory offers (Intro Offers) and how long 5.Rates and fees for Balance Transfers that are NOT part of the Intro Offer 6.Any Rewards details (cash back, airline miles, etc.) 7.Late Payment Fees?

Activity 2 info: Assume these are your debts…  Your Credit Debt  Card 1:$2500  Card 2:$4500  TOTAL:$7000  Visit this website:  INPUT THE FOLLOWING INFORMATION INTO THE CALCULATOR  Total credit card balance (above)  APR (Annual Percentage Rate)  Use the lowest or highest interest rate on the cards you picked  A. Calculate first by paying $100 per month  B. Then calculate again for “Desired Payoff Timeframe” use 36 months (3 yrs) INSTEAD of $100 payment  Your Credit Debt  Card 1:$2500  Card 2:$4500  TOTAL:$7000  Visit this website:  INPUT THE FOLLOWING INFORMATION INTO THE CALCULATOR  Total credit card balance (above)  APR (Annual Percentage Rate)  Use the lowest or highest interest rate on the cards you picked  A. Calculate first by paying $100 per month  B. Then calculate again for “Desired Payoff Timeframe” use 36 months (3 yrs) INSTEAD of $100 payment

Activity 2 continued.. Create a 3 rd slide with your findings  3rd PowerPoint slide - Answer these questions: 1.Total balance and Interest rate you used 2.How long it will take to pay paying $100 per month? 3.How much interest will you pay with $100/mo. payment? 4.Monthly amount you need to pay to pay off in 3 years? 5.Amount of interest paid if you pay off card in 3 years? Scroll down and look at pie chart and other options… **ADD STATEMENT TO YOUR SLIDE ABOUT HOW YOU FEEL ABOUT YOUR CREDIT DEBT….  3rd PowerPoint slide - Answer these questions: 1.Total balance and Interest rate you used 2.How long it will take to pay paying $100 per month? 3.How much interest will you pay with $100/mo. payment? 4.Monthly amount you need to pay to pay off in 3 years? 5.Amount of interest paid if you pay off card in 3 years? Scroll down and look at pie chart and other options… **ADD STATEMENT TO YOUR SLIDE ABOUT HOW YOU FEEL ABOUT YOUR CREDIT DEBT….

EXAMPLE slide Activity 1: (2 Slides, Each 15 Points) Bank of Turner – Warren Hills Card  Details 1.Bank of Turner –Warren Hills % to 17.99% Annual Percentage Rate 3.No Annual Fee 4.0% APR on purchases and balance transfers for 12 months 5.Balance transfer – 3% of balance, 22.99% cash advance 6.Earn 2% cash back to be spent in school store 7.$35 late payment fee  Details 1.Bank of Turner –Warren Hills % to 17.99% Annual Percentage Rate 3.No Annual Fee 4.0% APR on purchases and balance transfers for 12 months 5.Balance transfer – 3% of balance, 22.99% cash advance 6.Earn 2% cash back to be spent in school store 7.$35 late payment fee

EXAMPLE Slide 3, Activity 2: (20 Points) Pay off – combine all credit debt 1. $3, % APR 2.$60 month payment months to payoff with $60/mo payment! – that is 15 years 4.$6,895 in interest paid with $60/mo. payment 5.$139/month with 3 years payoff plan 6. $1,105 in interest if paid in 3 year plan STATEMENT: IF I PAY ABOUT TWICE AS MUCH AS THE $60 PER MONTH, MY TOTAL INTEREST PAID GOES DOWN MORE THAN 5,OOO AND I PAY DEBT OFF IN 1/5 THE TIME. 1. $3, % APR 2.$60 month payment months to payoff with $60/mo payment! – that is 15 years 4.$6,895 in interest paid with $60/mo. payment 5.$139/month with 3 years payoff plan 6. $1,105 in interest if paid in 3 year plan STATEMENT: IF I PAY ABOUT TWICE AS MUCH AS THE $60 PER MONTH, MY TOTAL INTEREST PAID GOES DOWN MORE THAN 5,OOO AND I PAY DEBT OFF IN 1/5 THE TIME.

Finish and Save to your H:drive  Put both names on 1 st slide and keep open for grading on screen.  Once finished, you can enhance and add design to your PPT  DO NOT PRINT.  Put both names on 1 st slide and keep open for grading on screen.  Once finished, you can enhance and add design to your PPT  DO NOT PRINT.