Transcript: Make Life Rewarding! Things To Consider: • Minimum Income • Annual Fees • Rewards • Credit Limit • Minimum Payments • Interest rate What is good about credit cards? Debit cards charge a fee when you use it, where as credit cards don't. Advantages of having a credit card: • Convienient to shop • Meet Emergency needs • Keep record of your expenses • It's secure • Benefits • You can build credit history Disadvantages of having a credit card: • Cost much more than other forms of credit • Interest payments • Annual Fees • Allows you to build up more debt than you can handle • Could damage credit rating if payments are late Types of Credit Cards Type A Annual Fee: None Minimum Household Income Required: $15 000 Minimum Student Income Required: $1200 Credit Limit: $1500 Type B Annual Fee: $29 Minimum Household Income Required: $25 000 Minimum Student Income Required: $2300 Credit Limit: $1500 Type C Annual Fee: $99 Minimum Household Income Required: $35 000 Minimum Student Income Required: $5000 Credit Limit: $5000
Transcript: The Benefits! Money on the spot! Free "item" when signed up! Just in case for emergencies! Can pay back something later! Building a Credit Line "College students need money. They dont have it, and they dont understand what they getting themselves into!" ~Mrs. Chiado College students need money! Unawareness of risks! The Pitfalls "I knew how credit cards worked, but i didnt understand the interests rates." ~Mrs. Chiado Unawareness of risks! Bad Credit! (No Loans! No Cars! No Houses!) Blowing their Budgets! Helps student, not hurt. Targeting Students who know nothing about the power of credit cards. (wont abuse) The Commercial! Theme: Credit Cards give you money you dont have, or finding extra money! Setting: Everyday, average life. (young guy) Tactic/ Strategy: Using humor and Real life senarios. State, Mountain. "The Importance of Managing Money." : Advantages and Disadvantages of Credit. Mountain State. Web. 16 Mar. 2012. <http://www.mtstcil.org/skills/budget-12.html>. For Credit Card Companies For Credit Card Companies For College Students Citations For College Students The Credit Card!
Transcript: Compare Credit Cards 0% APR for first 6 months then 13.24% -19.24% balance transfer fee - $15 or 5% of the amount of each transfer whichever is greater $150 cash back after 1st purchase 0% APR for first 15 months then 11.99 - 19.99% Balance Transfer Fee- 3% the first time then $10 or 5% of the amount 5% cashback on travel, gas, groceries, and restaurants 0% APR for first 6 months then 17.9 - 22.9% over the limit fee- up to $29 earn unlimited cash rewards that don't expire I choose Discover because it has the lowest rate. 1% cashback on all purchases late fee - $15 if balance is lass than $100, $29 for $101-$250, $39 for $250+ 0% intro APR Late Fee- up to $35 Over the Limit Fee- $35 Over the limit fee - $35 earn 5% cash back balance transfer fee- $0 1% cashback automatically on any purchase 2% cashback on purchases at gas and grocery late fee- up to $35
Transcript: 5 people have lost their cards http://wiki.answers.com/Q/Can_you_use_a_debit_card_as_a_credit_card_without_your_pin http://bbs.taisha.org/thread-1680895-1-1.html I suppose that people use the card without password since they have other ways to prove the status of holders. Moreover, card losers can report the loss to bank at the first time. Apart from that, banks will afford the lose of holders 11 MALE 9 FEMALE BY: Alex AGE GROUP ALL PEOPLE SAY NO! But Debit Card NEEDS! 18 People Say Yes 2 People Just Have One Do you have several credits or debit cards How often do you swipe the cards 1 is seldom 5 is very often Do you need password when you swipe the credit cards GENDER Hypothesis Have you lost cards Credit Card Password Bibliography IF NOT, WHAT ARE REASONS FOR THAT?
Transcript: Credit Card Shawntasia Henry What is a Credit Card? It’s a plastic card with a magnetic strip many people carry in their wallets or purses; it is the end result of a complex banking process. Holders of a valid credit card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit. The vendor receives essential credit card information from the cardholder, the bank issuing the card actually reimburses the vendor, and eventually the cardholder repays the bank through regular monthly payments. If the entire balance is not paid in full, the credit card issuer can legally charge interest fees on the unpaid portion. History of a Credit card In the beginning, credit cards were just charge accounts, offered by individual stores and only usable at those stores. The first credit card that could be used at multiple locations was offered by The Diner’s Club in 1950.In 1730, Christopher Thompson, a furniture merchant, created the first advertisement for credit by offering furniture that could be paid off weekly. This introduced the idea that people who couldn’t afford to buy “big-ticket” items could make regular payments until the full cost of the items were paid. Purpose of a Credit Card A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Pros of a Credit Card Many credit card plans also include insurance coverage for theft or fraud. If a credit card is reported stolen and then used illegally, the cardholder would not be held responsible for unauthorized charges. A credit card holder can authorize other people to use the card for purchases or services, however. Ultimately, the primary cardholder is responsible for all charges placed on his or her account. A credit cards do not give the holder an immediate credibility for services such as hotel reservations, car rentals and airline ticket reservations. Those without a credit card often have to guarantee their reservations with cash deposits or several forms of identification. Credit card use often becomes problematic when the holder accrues more debt than a regular monthly payment can cover. The issuing bank does allow credit card users to carry over balances every month (revolving credit), but significant interest rates may also accrue on those balances. Missing a scheduled payment can also prompt the bank to raise interest rates on a delinquent account. If a credit card holder can only afford to pay the minimal amount due every month, he or she will not be reducing the actual debt incurred. The minimal payments may only apply to the accrued interest. This is a financial spiral many credit card users may experience if they don't use proper spending restraint. Low Risk My five interesting facts about Credit Cards A credit card is not a requirement for successful living, but even those who only pay for goods or services with available cash often find a credit card to be a convenient form of identification and instant credibility. In order to avoid excessive credit card debt, the holder must decide if the goods or services are worth the added expenses. With an annual fee of $2,500, Black Centurion Card (offered by American Express) is the most expensive credit card in the world. It requires the cardholder to spend at least $250,000 a year through credit card transactions. All credit cards are the same shape and size. According to the ISO/ICE 7810 standards, all credit cards are 85.6 millimeters wide and 53.98 millimeters tall In 1976, the name Visa was given to a joint financial venture created by Bank of America in 1958. In 1984, MasterCard was the first to use a hologram on its cards to deter fraud http://www.bargaineering.com/articles/50-fun-facts-about-credit-cards.html http://www.thehistoryof.net/history-of-credit-cards.html http://www.wisegeek.com/what-is-a-credit-card.htm Cons of a Credit Card Work Cited Yay!!
Transcript: 3. Length of credit history (15%) The longer you've had credit -- particularly if its with the same credit issuers -- the more points you get Your credit score is a number generated by a mathematical algorithm This is based on information in your credit report, compared to information on tens of millions of other people 4. Mix of credit (10%) Statistically, consumers with a richer variety of experiences are better credit risks Credit Score 1. How you pay your bills (35%) of the score- Paying all your bills on time is good paying them late consistintly is bad 5. New Credit Applications (10%) If you have a very young credit file, and inquiry can count for more than if you've had credit for a long time. 499 and below 500-549 550-599 600-649 650-699 700-749 750-799 800 and above 2. Amount of money you owe and the amount of available credit (30%) People with the highest scores use credit sparingly and keep their balances low 2% 5% 8% 12% 15% 18% 27% 13% Key Factors of your Score What doesn't count in your credit score age race sex job or length of employment at your job income education marital status whether you own a home or rent if you've been turned down for credit Percentage
Transcript: What were the stages that your artifact went through? What is the purpose of your artifact? Credit Card How has your product impacted society in a negative way? How was it used when originally invented? How is it used today? Information Technology is what classifies a credit card. Information Technology allows you to send signals and data around the world. According to its archivist, American Express formed in 1850. It specialized in deliveries as a competitor to the U.S. Postal Service, money orders (1882) and traveler's checks, which the company invented in 1891. The company discussed creating a travel charge card as early as 1946, but it was the launch of the rival Diners Club card that put things in motion. You spend money that you don't have. You can get into debt that it is hard to get out of. What area of technology best classifies your artifact? Who is the original inventor and when was your product invented? Around 1938, companies started to accept each others cards. Today, credit cards allow you to make purchases with countless third parties. The inventor of the original universal bank charge card is widely attributed to John Biggins of the Flatbush National Bank in New York. By: Jasmine Call How was your artifact invented? The year 1950 marked beginning of Dinners Club, the world's first independent credit card company. This credit card could only be used in 14 different local stores. Today credit cards are made of plastic and can be used almost anywhere. The purpose of a credit card is so that you don't have to carry your money around. The credit card first was like tabs and could only be used locally, it had to go through the transformation from tabs to an actual plastic card that could be used in many more places.
Transcript: Credit card is new buisness for selling goods without money Prepare for: Dr. Nawzad Al salihi Prepared by: Dler, Dunya, Ramy Contentes : intruduction Background of the credit card Objectives Types of credit cards Advantages Disadvantages Conclutions Introduction 1st step 2nd step Last step (cc) image by nuonsolarteam on Flickr Finished Contents Spark University of kurdistan-hawler
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