Category: Credit Cards

EdPuzzle Thursday - TYPES OF CREDIT: Using Your Credit Card

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Mar 18, 2020
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EdPuzzle Thursday, Credit Cards
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing a new EdPuzzle video here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.  In this week's EdPuzzle video, your students will learn important information about a credit card such as the billing cycle, how interest is calculated, the impact of paying minimum payments or missing a payment, and how to use a...

Chart of the Week: What has been the trend in interest rates over the past 700 years?

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Mar 17, 2020
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Chart of the Week, Credit Cards
From Visual Capitalist:    Interesting visual showing the history of interest rates since 1310. Perfect to share with your European history teachers. Here were the closing interest rates on debt issued by the U.S. Treasury over the past two weeks:  Note that on 3/9/20, all Treasuries from 1 month to 30 years were yielding under 1%...truly incredible!  Questions:  What has been the long-term trend in interest rates since 1310?  The purple dots on the far right are...

Question of the Day: Fill in the blanks. ______ % of Gen Z (18-24 year olds) have on average _______ credit cards with a median balance (amount they owe)  of _________.

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Feb 26, 2020
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Question of the Day, Credit Cards, Research
Answer: 33% of Gen Z (18-24 year olds) have on average 1.51 credit cards with a median balance (amount they owe) of $606.  Questions: What is the first word that comes to mind when you hear "credit card?" When do you think you will get a credit card?  If you have one already, when did you get it? How do you use it?  What do you think are some of the pros/cons of credit cards?  Click here for the ready-to-go slides for this Question of the Day that you can use in...

EdPuzzle Thursday - TYPES OF CREDIT: Comparing Cards

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Feb 26, 2020
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EdPuzzle Thursday, Credit Cards, Debit Cards
Want to assign videos with built-in questions? We will be releasing a new EdPuzzle video here on the blog each week so that your students can answer questions that are directly embedded within engaging videos. We are excited to share with you a new video each week and a new topic each month! In this week's EdPuzzle video, your students will learn the difference between a credit card, debit card, and prepaid debit card.  Interested in more EdPuzzle videos? Visit our Video...

Question of the Day: What percent of active credit card accounts carried a balance in 2019?

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Feb 17, 2020
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Credit Cards, Question of the Day, Research
Answer: Questions: Why do you think that such a high percentage of people carry a credit card balance and pay interest rates over 20%?  When did you/do you hope to get a credit card? If you have one, what do you use it for?  What strategies can you use to prevent overspending on your credit card and paying lots of money in interest?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Comparecards.com...

Reading List for February 14-16

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Feb 14, 2020
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Personal Finance, Savings, Credit Cards, Investing, Economics, Retirement
Happy Valentine’s Day (and Presidents’ weekend)! In recognition of the holiday, I am sharing the first article from Barry Ritholz’ reading list this morning from Behavioral Scientist in case you still need to find that perfect Valentine’s card for the people in your life. Enjoy!   Personal Finance We do what we do to keep future generations from repeating our financial mistakes. According to a recent survey by Deposits.com, 85% of Americans admit to making financial...

"Going from Broke:" Episode Summaries and Discussion Questions

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Feb 14, 2020
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Video Resource, Credit Cards, Credit Scores, Investing, Budgeting
Ashton Kutcher is one of the executive producers of a series called “Going from Broke,” focusing on the massive (student) debt issue facing young adults.  Chicken Soup for the Soul Entertainment is the ad-supported video streaming service that runs the series on Crackle, and it hit 5 million views after just 4 weeks.  The series appears to be attracting attention. Dan Rosensweig, another executive producer, is the CEO of a company called Chegg and is the host of the show....

[Updated] Question of the Day: What percentage of Americans can not come up with the cash to cover a $400 emergency?

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Feb 11, 2020
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Question of the Day, Savings, Current Events, Credit Cards
Answer: 12% It is time once again to take a look at new data on this often quoted number, and put it in context. (In fact, 12% is the critical figure here, representing those who can’t pay it at all: 27% would have to borrow or sell something to cover the expense.) Questions: Are you surprised by this number? Why or why not? What are some emergency expenses that could amount to $400? How do you think the 39% cover this emergency cost if they don’t have money saved to cover it? What...

Question of the Day: Rank order from most to least prevalent these credit products used by Gen Z (18-24): Student Loan, Auto Loan, Credit Card.

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Feb 05, 2020
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Credit Cards, Question of the Day, Student Loans, Credit Reports
Answer: Note: Private label = store credit card Questions: What is your current attitude toward credit products?  Do you anticipate using any of these products? If so, at what age do you think you will start using them?  Describe what it means to use credit products responsibly.  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (TransUnion research): Many younger consumers receive smaller credit limits...

QoD [UPDATED]: Excluding home loans, what are the three largest debts for American consumers?

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Jan 13, 2020
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Student Loans, Question of the Day, Credit Cards, Research
Answer:  Student loan - $1.5 trillion Auto loan - $1.32 trillion Credit Card - $0.85 trillion Questions: Which type of credit has grown the fastest from 2004-2019? Why do you think this is the case?  Using the chart, estimate the growth rate (in trillions of dollars) between 2004-19 for student loans, auto loans and credit cards.  What impact did the Great Recession (2008-09) have on debt levels? Do you think people tend to borrow more or less when a recession occurs? ...

QoD: You're new to credit and you don't pay your credit card bill for months. It gets sent to a collections agency. How much will your credit score decline?

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Jan 08, 2020
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Credit Scores, Question of the Day, Credit Cards
Answer: 224 points (from 599 to 375) Explanation: Your score sank 224 points. A credit card in collections means your credit score is now in the high-300s.  Questions: Why do you think not paying your credit card bill for months has such a big impact on someone who is new to credit? What do you think are the reasons that people can’t pay their credit card bills? Identify at least 3 reasons. What are strategies you can come up with to make sure that you are always in a...

Credit Card QoD: How much does the average household with credit card debt pay in interest cost annually?

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Jan 05, 2020
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Question of the Day, Credit Cards, Research
Holiday shopping can sometimes mean credit card debt, so this question takes a look at the annual interest cost a family pays when they carry a balance on their credit card.  Answer: $1,505 Methodology: Average household credit card debt of $8,707 (WalletHub analysis) multiplied by an average credit card interest rate of 17.30% (creditcards.com) Questions: Why do you think that so many Americans have credit card debt, meaning they don’t pay the full balance on their credit card...

Video Resources: Brief History of Credit Cards, Will Power and Kids in a Cashless Society

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Jan 02, 2020
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Credit Cards, Video Resource, Behavioral Finance, Payment Types
Interesting videos that you may find useful to supplement your lessons.  Video: A Brief History of Credit Cards (or, What Actually Happens When You Swipe) Description: "What actually happens when you swipe your credit card? a16z general partner Alex Rampell helps solve the mystery, taking us from the beginning of the credit card revolution (including its hometown of Fresno, California) and on the journey of how both information and money travel… through the five parties...

Best of 2019: Most Visited Unit Pages

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Dec 30, 2019
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Checking Accounts, Paying for College, Credit Cards, Credit Reports, Career, Investing, Insurance
 Our Unit Pages are the most visited pages on the NGPF website. Why? It provides teachers with all of the NGPF resources available on a given topic (unit) on ONE page. So, whether you are looking for 45 minute lessons or just individual resources to supplement your existing lesson, you can find them on the unit page.  Here were the unit pages that received the most page views: Checking Budgeting Taxes Types of Credit Investing Career Paying For College Saving Insurance  Managing...

Best of 2019..NGPF's Questions of the Day

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Dec 25, 2019
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Question of the Day, Behavioral Finance, Budgeting, Credit Cards, Credit Scores, Current Events, Investing, New Products
If you receive our daily blog updates, you know that we produce a Question of the Day every Mon-Thursday during the school year..which amounts to about 160 questions. Here are the 10 questions that garnered the most pageviews in 2019. See how many you can answer correctly: What's the average credit score needed to rent an apartment?  What percent of people age 75 and older are still working? What percent of U.S. millionaires are professional athletes? What percent of 18-34 year olds are...