1. 7.4.2.G2 Understanding Your Credit Card Essentials Family Economics & Financial Education Credit Cards Essentials Trivia

2. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Trivia Instructions Divide the students into teams of 3-5 Provide each team with a white board and a dry erase marker Have each team create a team name and write it on the board where points are being tallied Choose a team to select a category and point value Read the question and allow all of the teams 10 seconds to write their response on the paper

3. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Trivia Instructions Have the students hold their answers up at the same time Each time, award every team who answered the question correctly the money value indicated by the question – If they answer incorrectly, the teacher may take away the point value Allow the next team to choose the category and point value Continue until all of the questions have been answered The team with the most money at the end wins

4. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Cards 101 Trivia TerminologySchumer BoxCredit History Credit Card Knowledge $100 $200 $300 $400 Final Trivia

5. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology- $100 Answer: A yearly fee that may be charged for having a credit card.

6. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology- $100 Question: What is an annual fee?

7. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology- $200 Answer: When a consumer has passed an initial credit check.

8. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology- $200 Question: What is pre-approved?

9. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology- $300 Answer: A person or organization who has the resources to provide an individual with a loan.

10. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology- $300 Question: Who is the lender?

11. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology$400 Answer: A plastic card that is electronically connected to the cardholder’s bank account.

12. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Terminology- $400 Question: What is a debit card?

13. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box- $100 Answer: The cost of credit expressed as a yearly interest rate.

14. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box- $100 Question: What is the annual percentage rate (APR)?

15. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box - $200 Answer: Transferring debt from one credit card account to another.

16. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box - $200 Question: What is a balance transfer?

17. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box - $300 Answer: The interest rate charged right after a credit card account is opened.

18. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box - $300 Question: What is introductory rate?

19. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box - $400 Answer: The interest rate charged on new transactions if the penalty terms in the credit card contract are triggered.

20. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Schumer Box - $400 Question: What is penalty APR?

21. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History- $100 Answer: An individual’s ability and willingness to pay money back.

22. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History-- $100 Question: What is creditworthiness?

23. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History - $200 Answer: A record of a consumer’s credit history.

24. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History - $200 Question: What is credit report ?

25. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History - $300 Answer: A number that summarizes an individual’s credit record and history.

26. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History - $300 Question: What is a credit score?

27. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History - $400 Answer: An example of positive credit card use.

28. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit History- $400 Question: What is: Paying card balances in full every month Paying card bills on time Applying for only cards that are needed Keeping track of all charges Checking monthly card statement for errors

29. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $100 Answer: Outlines important information about a credit card, including transactions the cardholder has made during that billing cycle and the current balance on the credit card.

30. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $100 Question: What is a credit card statement?

31. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $200 Answer: The cardholder’s liability for unauthorized credit card charges under the Truth in Lending Act.

32. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $200 Question: What is $50.00?

33. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $300 Answer: The maximum amount of charges allowed to the account.

34. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $300 Question: What is the credit limit?

35. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $400 Answer: To increase credit card safety, the back of the card should include the cardholder’s signature and this.

36. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Credit Card Knowledge - $400 Question: What is “Please see ID?”

37. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Final Trivia

38. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Final Trivia Answer: An APR that may change depending on other factors

39. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Understanding a Credit Card Essentials Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.4.2.G2 Final Trivia Question: What is variable-rate APR?