Your SlideShare is downloading. ×
powerpoint
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

powerpoint

102
views

Published on


0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
102
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. CREDIT CARDS WHAT THEY ARE AND HOW THEY WORK
  • 2. WHAT IS A CREDIT CARD
    • A CREDIT CARD ACCOUNT ALLOWS YOU TO PURCHASE GOODS OR SERVICES WITHOUT PAYMANT AT THE TIME OF PURCHASE
    • “BUY NOW, PAY LATER”
  • 3. WHY DO I NEED A CREDIT CARD?
    • EASY TO USE
    • NEARLY ALL BUSINESS EXCEPT THEM
    • SOME BUSINESS REQUIRE THEM
    • SAFE TO USE
  • 4. TYPES OF CREDIT CARDS
    • BANK CARDS: ISSUED BY A BANK, USED TO MAKE PURCHASES VIRTUALLY ANYWHERE. EXAMPLES INCLUDE: VISA, MASTERCARD, DISCOVER, AND AMERICAN EXPRESS
    • STORE CARDS: ISSUED BY A COMPANY TO MAKE PURCHASES AT A SPECIFIC STORE. EXAMPLES INCLUDE: SEARS, JCPENNY, EXXON, LOWES, ETC.
  • 5. HOW IS A CREDIT CARD USED
    • THE CARD IS USED TO “CHARGE” A PURCHASE TO THE CREDIT CARD ACCOUNT
    • A MONTHLY STATEMENT SHOWS ALL CHARGES MADE TO THE ACCOUNT AND THE BALANCE DUE.
    • PAY THE BALANCE EACH MONTH
  • 6. PAYING THE BALANCE TWO CHOICES
    • PAY IN FULL
    • NO FINANCE CHARGES APPLY
    • THE CARD ISSUER DOES NOT MAKE ANY ADDITIONAL MONEY FROM YOU
    • PAY PART OF THE BALANCE
    • FINANCE CHARGES WILL BE ASSESSED TO THE NEXT STATEMENT
    • THE CARD ISSUER GETS ADDITIONAL MONEY FROM YOU
  • 7. WHAT IS A FINANCE CHARGE?
    • A FINANCE CHARGE IS A PENALTY ASSESSED TO YOU FOR NOT PAYING YOUR ACCOUNT BALANCE IN FULL
    • IT CAN RANGE FROM 6% TO 25% APR OF YOUR UNPAID BALANCE
    • FINANCE CHARGES CAUSE YOU TO PAY MORE FOR AN ITEM THAN THE ORIGINAL COST
  • 8. HOW CAN I USE A CREDIT CARD RESPONSIBLY?
    • DON’T CHARGE MORE THAN YOU CAN AFFORD TO PAY
    • PAY YOUR BILL IN FULL EACH MONTH
    • IF YOUR BALANCE GETS TOO LARGE TO PAY IN ONE MONTH, QUIT USING THE CARD UNTIL THE BALANCE IS PAID DOWN

×