Credit Cards

Go to: www.aie.org
Click on student and After College and managing your money
Find: Reading a Credit Card Statement and answer the following:
1. What is the minimum payment amount !"#
$. What is the re%uired minimum payment percentage $&
'. (ist the total credit limit a)aila*le: !"+###
What does total credit limit a)aila*le mean ,he total amount you can spend on
the credit card.
-. (ist the cash ad)ance A./: $$& purchases A./: 10&
". 1escri*e what a *alance transfer is and what happens ,ransfer a *alance from a card
and the *ank will send you checks to pay it o2. 3nce you use a check on the other card the
*alance is transferred.
0. Where should the payment *e mailed4locate address5 .67 card ser)ices .3 *o8 999
:oney)ille+ :A
;. What is the customer<s new *alance !$+"'-.$#
=. >ow much was the ?nance charge !'-.$# What is a ?nance charge >ow much you
pay to use credit.
Find: Credit Card Skill Builder and answer the following:
1. (ist the di2erences *etween the following cards:
.remium )s. Gold )s. .latinum
$. .ick a card+ charge your items.
'. >ow much did you spend@@@@@@@@@@@
-. What is your minimum payment due @@@@@@@@
". .ay the minimum. What were your interest charges @@@@@@ ,otal costs @@@@@@@@@
Aum*er of months to pay o2 @@@@@@@@@
Find: Credit Card Repayment
1. A $& minimum payment+ !1### at 1'& interest would *e paid o2 in 1$.- years
$. A 1#& minimum monthly payment + !1### at 1'& would *e paid o2 in 1$.- . years
Find: Credit Scores and Reports and Reading Credit Report
1. Who does Bonathan :oneymaker work for /eally 6ig Company Cnc.
$. (ocate his loan through (onecomet Credit.
What is his current *alance !#
'. What was his highest *alance !11+""9
-. What type of loan was this Automo*ile
". Cs the loan opened or closed Closed
Find: Credit Scores
1. What is a credit score and what does it tell you /eDects your creditworthiness at a
certain time.
$. (ist the " categories and their percentage of impact:
Credit mi8
Aew accounts and credit re%uests
(ength of credit history
,otal inde*tedness
/ecord of paying your *ills on time
'. (ist " ways you can impro)e your score:
.ay your *ills on time
Eeep *alances low
1on<t close unused credit cards
Check your credit report
.ay o2 de*t rather then mo)ing it around
-. What is the *est score range ;0#F="# ,he worst score range "##F";9
". What are $ things that create a %uick hit on your credit score
7npaid medical *ills and parking tickets
Cf you sign up and use store cards for initial discounts