1. Credit Cards by Andrew Travis, Dru Carson, Elissa Knopp and Kaitlin Lalk

2. History of Credit Cards Credit cards originally looked like this: ●First made of Celluloid, a form of plastic ●First focused on entertainment charges and travel by businesses ●First bank card "Charg-It," introduced in 1946 by John Biggins

3. Advantages Convenience- Credit cards can save you time and trouble Low-cost loans- Earns bank’s trust with a better credit score Instant cash- Cash advances are quick and convenient, putting cash in your hand when you need it Perks- From frequent flier miles to discounts on automobiles Purchase protection- Most credit card companies will handle disputes for you

4. Disadvantages Overuse- Revolving credit makes it easy to spend beyond your means Paperwork- You'll need to save your receipts and check them against your statement each month High-cost fees- Your purchase will suddenly become much more expensive if you carry a balance or miss a payment Unexpected fees- Typically, you'll pay between 2 and 4 percent just to get the cash advance; also cash advances usually carry high interest rates Deepening your debt- Consumers are using credit more than ever before, If you charge freely, you may quickly find yourself in over your head

5. Smart and Appropriate Uses ●Method of payment ●Earn rewards ●Protected by false delivers ●Use in moderation ●Build a better credit ●Pay balances in full

6. Inappropriate Uses ●Retail therapy- don’t shop because you are bored, find less expensive ways to cope ●Financing debt- meaning to take out a loan or another credit card because you feel you are in too much debt ●Utility bills- this will result in excessive interest charges on small amounts ●Perishable items- these things will depreciate in value and you end up paying interest on something consumed in a short amount of time

7. Media’s Role in Credit Cards ●Shows all the things you can buy if you have a credit card ●Makes the commercial funny or makes it more enjoyable to watch ●Shows convenience for the credit card ●Celebrities are used in commercials to say if they have the card, you should get it too

8. Use of Credit Cards by College Students ●84% of undergraduates had at least one credit card ●$3,173- Average balance carried by college students ●19%- Seniors who graduate with a balance greater than $7000 ●Act of 2009- Higher barriers to credit approval, no more freebies, much more difficult for anyone under the age of 21 to qualify for a credit card

9. Tips to use a Credit Card wisely ●Wants vs. needs ●Pay off balances strategically ●Don’t apply for credit you don’t need ●Keep your balances low

10. Works Cited ●"The History of Credit Cards."CreditCardscom News. Web. 10 Dec. 2014..http://www.creditcards.com/credit-card-news/credit-cards-history- 1264.php ●"Advantages and Disadvantages of Credit Cards - 360 Degrees of Financial Literacy." Advantages and Disadvantages of Credit Cards - 360 Degrees of Financial Literacy. Web. 12 Dec. 2014. ●"6 Smart Ways to Use a Credit Card - Credit.com." Credit.com. Web. 12 Dec. 2014..http://blog.credit.com/2014/09/6-smart-ways-to-use-a-credit- card-94782/ ●"Three Inappropriate Uses of Credit." OpposingViews.com. N.p., n.d. Web. 18 Dec. 2014..http://www.opposingviews.com/i/three-inappropriate-uses- of-credit ●"Inappropriate Uses of Credit Cards." EHow. Demand Media, 15 July 2010. Web. 18 Dec. 2014..http://www.ehow.com/list_6738437_inappropriate- uses-credit-cards.html ●"Social Media Plays Big Role in Attracting Youth to Credit Card Programs." Sterling Payment Technologies RSS. N.p., n.d. Web. 18 Dec. 2014..

11. Works Cited Continued ● "College Students and Credit Cards – Some Statistics." College Students and Credit Cards – Some Statistics. N.p., n.d. Web. 17 Dec. 2014. http://www.collegeparents.org/members/resources/articles/college-students-and-credit-cards- %E2%80%93-some-statistics ●"Students, Credit Cards and the New Reform Law: The Fine Print." CreditCardscom News. N.p., n.d. Web. 17 Dec. 2014. http://www.creditcards.com/credit-card-news/college-student-credit-card-law-1279.php ●"10 Ways to Use Credit Cards Wisely." Woman's Day. N.p., n.d. Web. 18 Dec. 2014. http://www.womansday.com/life/saving-money/10-ways-to-use-credit-cards-wisely-82969 ●"Using Credit Wisely - Fidelity Investments." Using Credit Wisely - Fidelity Investments. N.p., 04 Dec. 2014. Web. 18 Dec. 2014.