creditcards.jpgBuying on Credit

Here you will explore the "in's and out's" of using credit to make purchases.

You will travel to the Channel One Web Page to complete the following activities.

Assignment A:

Choosing a Credit Card

Click on the Credit Card Simulator. In this activity you will choose among three different credit cards. You will need to pay close attention to terms and conditions for each card so that you can make the right decision.

1. Go to the glossary on the card simulator and define each of the terms located there. Use your Google account to open this Buying on Credit document. Make sure that your make a copy of the document in Google, put your name in the title, and drag the document to your Personal Finance Collection folder.

2. Choose a credit card. Hint! What looks really good now, may not be so good later. Think about what the terms and conditions mean for each card and choose one.

3. Use the Buying on Credit document to indicate which card you chose and answer questions about the credit card.

Assignment B:

Video: Credit Reports 101

1. View the video and answer the questions at the bottom of your Buying on Credit document.

Assignment C:

Advantages and Disadvantages of Buying on Credit

You will go to the following link "The Importance of Managing Money" and read about the advantages and disadvantages of buying on credit. After you are finished, go to your Buying on Credit document on Google Docs and list three of each from what you read. Also, give an example for each.

Assignment D:

Tips for Using Credit Wisely

It is almost impossible to not have at least one credit card in this day and age. But, having a credit card requires much responsibility.

You are going to explore different tips for buying on credit and using credit cards. Visit the Institute of "Consumer Financial Education's" web site.

Familiarize yourself with the following segments on the site:
  • Acceptable uses of Credit
  • When Credit Cards are Bad
  • When Credit Cards are Good
  • Tips for Using Credit and Charge Cards.

Now let's see what you have learned!

Your task is to create a Poster showing information about one of the above segments. You will use this rubric as the grading guideline. Posters will be created in Google Draw. Make your poster attractive and colorful. (Be sure to put your poster in your Personal Finance Folder.)

BUT WAIT!!! You have been assigned a specific poster according to your first name as follows:
First Name starting with:
A-F................Acceptable Uses of Credit
G-L...............When Credit Cards are Bad
M-R...............When Credit Cards are Good
S-Z. . . . . . . . Tips for Using Credit and Charge Cards.

Assignment E:

Credit 101 Quiz
Do you know the facts about using credit wisely?

1. Go to the Socrative, link is located in the Navigation panel on the left.
2. Take the Quiz on "Using Credit Wisely". (Please let Mrs. Kennedy know if the link is not open.)