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Consumer credit
 

Consumer credit

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    Consumer credit Consumer credit Presentation Transcript

    • Consumer Credit EPF.13B ANALYZE CREDIT CARD FEATURES AND THEIR IMPACT ON PERSONAL FINANCIAL PLANNINGEPF.13E COMPARE TERMS AND CONDITIONS OF VARIOUS SOURCES OF CONSUMER CREDIT
    • EPF.13b analyze credit cardfeatures and their impact on personal financial planningCREDIT CARDS HAVE MANY POSSIBLE FEATURES. A DECISION MODEL CAN HELP SELECT THE APPROPRIATE CARD FOR THE CONSUMER.
    • What are some of the features of credit cards?Consumers should consider the impact on personal financial planning of credit card features, such as annual percentage rate (APR) annual fees compound interest penalty charges credit line promotional incentives account disclosure statement minimum payments.
    • How can a decision model be used to select a credit card? To use a decision model in selecting a credit card, the consumer needs to decide what features are most important in order to establish criteria.
    • What are the costs and benefits of credit cards?The benefits of using The costs of using creditcredit cards include cards include float (deferred payment)  interest convenience  fees (e.g., late, annual, over- capability to conduct the-limit) online transactions  risk of identity theft rewards  risk of borrowing beyond purchase protection the ability to repay fraud protection  length of time to pay off payment over time the balance when paying only the minimum establishing credit. payment.
    • EPF.13e compare terms andconditions of various sources of consumer credit BORROWERS SHOULD COMPARE THE TERMS AND CONDITIONS OF VARIOUS SOURCES OF CONSUMER CREDIT.
    • What are the terms and condition s of various sources of consumer credit? Consumers should considerConsumers of credit costs and benefits ofshould compare various sources, including percentage rates  retailers annual fees  banks transaction fees  credit unions  finance companies finance charges  risk-based lending risk of losing assets. companies (e.g., payday loan services, pawnbrokers, title loan services).