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by Nolan Smith1 view·Updated Apr 7, 2021
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  1. all right.
  2. Hello. My name is Nathan Smith, and this is my
  3. presentation on, um, using credit cards.
  4. So question number one is why can credit cards be
  5. dangerous for your financial health?
  6. What can be dangerous?
  7. Because it can actually put you in, like, quite a
  8. bit of debt.
  9. If you spend too much on your card and you
  10. don't have, like, you won't have enough money to pay
  11. it back pushing debt, which will give you a bad
  12. credit score.
  13. Um, it could just lead a whole bunch of problems.
  14. So that is what I credit cards can be dangerous.
  15. What is credit and why is it important to have
  16. good credit?
  17. Well, um, good credit is basically something you build up.
  18. I mean, you know, you have a credit card, um,
  19. you buy things with it, and then you pay that
  20. money back on time.
  21. And if you paid on time, um, then you build
  22. up good credit and good credit.
  23. Um, it's something you really want because of if you
  24. have good credit, Um, obviously, you won't be in debt
  25. if you have good credit, which is you know what
  26. you really want, But you can also get, um, bigger
  27. and better loans in the future with good credit.
  28. Because if you have bad credit score, um, people give
  29. you loans, they look at that and they're not going
  30. to give you any loans if you have a bad
  31. credit score.
  32. So but next question is, what are some of the
  33. scary statistics about credit card usage?
  34. Well, I think this one that's about to go on
  35. the screen alone is scary enough compared to the rest
  36. of them.
  37. And that is that Americans have almost four trillion of
  38. credit card like dollars of credit card debt.
  39. I just think that is, you know, an absurd amount
  40. of money because of, you know, the average will not
  41. even the average person, just anybody.
  42. Really, um, don't make trillions of dollars in their entire
  43. life. So, um, yes, that leads on the question before
  44. Why is the minimum payment deceptive?
  45. So, um, with question number four, the minimum payment is
  46. deceptive because of a lot of the times.
  47. It's not actually like what the lenders want you to
  48. pay back.
  49. Like it's not even like the amount like you're supposed
  50. to pay back.
  51. Um, because the minimum payment that usually make is, you
  52. know, 2 to 5%.
  53. So, um, that is why is it is it is
  54. deceptive because there's a lot of the time they're not
  55. even paying back.
  56. Like, you know what you should be paying back.
  57. It's just, you know, paying the very, very minimum which
  58. is under which you're paying back.
  59. Yeah, in a number of questions of five is okay.
  60. What should people do in order to be safe with
  61. credit cards?
  62. Well, um, obviously, um, you should make sure that if
  63. you're going to make a purchase on your credit card,
  64. you'll be able to pay it back so you don't
  65. get put into debt.
  66. You don't get bad credit.
  67. Um, and all that stuff.
  68. Um okay.
  69. Also, make sure you know, you don't just go crazy
  70. buying things with your credit card.
  71. Only make sure you buy things like you need to
  72. buy with your credit card.
  73. Um, and like I said, make sure you can always
  74. pay a bag.
  75. That is like, the most important thing because you don't
  76. want to go into debt.
  77. You don't wanna get back.
  78. Credit score.
  79. Um, so yeah, Even during emergencies, you should have an
  80. emergency fund set up, so you won't have to, like,
  81. you know, put it on your credit card and then
  82. have to pay it all back.
  83. And because I could easily put into debt just in
  84. the blink of an eye.
  85. So, yeah, that is my, um, awesome projects on using
  86. credit cards.