Category: Credit Cards

QoD: Which credit card feature is most popular with consumers: 0% interest, 3% cash back or $500 cash sign-up bonus?

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May 14, 2019
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Question of the Day, Credit Cards, Research, Behavioral Finance
Hat tip to Beth Tallman for pointing out this study from Bankrate which is full of great question material:) Answer: 3% cashback Questions: Why do you think the 3% cash back feature is so popular with cardholders?  Do you think the most popular feature might differ for those carrying a large credit card balance (i.e., you were not paying off your credit card bill every month)? Why or why not? Which would you choose if deciding between these three features? Explain your answer. ...

Reading List for May 11-12

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May 10, 2019
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Investing, Stocks, Advocacy, Credit Cards, Mortgages, Retirement
  Investing We will start with Investing this week because this week's biggest news is today’s Uber’s IPO. Here is all you need to know about the one of the largest IPOs! (NYT) Uber was priced at $45/share--the “low end,” and keeping the valuation at $82B, well below the expected $100B. Looks like “low end” wasn’t low enough. Watching CNBC Squawk Box as the market was “building the book” before the first trade was fascinating as the...

QoD: What percent of credit card applications are declined?

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Mar 25, 2019
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Question of the Day, Credit Cards, Credit Scores, Research
Answer: 14.4% Questions: Do you think this number is higher or lower for 18-24 year-olds? Why? Why do you think are the reasons that consumers applications for credit are turned down? How do you think this percentage has changed since the Great Recession? Do you think banks and other lenders change their criteria over time as they determine who to/not to lend to?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Value...

Reading List for March 23-24

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Mar 22, 2019
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Financial Literacy, Credit Cards, Investing, Taxes, Economics, Identity Theft, Paying for College
Financial Literacy We all know that April is Financial Literacy Month. Forbes will publish this piece on why financial wellness matters. Earlier this month, Forbes also published an article on how Financial Literacy keeps athletes from going broke. Keep the articles coming, Forbes!!! April may be a good time for everyone to do a little financial health checkup. Here is a refresher on limiting potential impact of identity theft. (USA Today) Economics  The Federal Reserve announced no...

5 Cool New Videos: Savings Tips, Payday Lending and Stock Market Winners and Losers Over the Past 20 Years

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Mar 20, 2019
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Video Resource, Credit Cards, Financial Scams, Compound Interest, Investing, Stocks
I wanted to share some cool new videos that we have come across in our travels: Three Psychological Tricks to Help You Save Money (TED Talks; 5 minutes); hat tip to Yanely for connecting us to Wendy; hope to have her on podcast in the future.    Backgrounder on the Payday Lending industry (PBS NewsHour; 4 minutes); good opportunity to discuss the financial pitfalls of payday lending, it's fee structure and the role of regulation in consumer protection.    How...

True or False. A parent can place a credit freeze on a minor under the age of 16 to protect against ID theft.

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Mar 19, 2019
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Question of the Day, Credit Cards, Credit Scores
Answer: TRUE Questions: What do you think a credit freeze does?  Why would you want to freeze your credit before you even have a credit card or other form of credit? Would you ask your parents to freeze your credit? Why or why not?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Federal Trade Commission): The new law also lets people like parents, guardians, and representatives acting on behalf of a young person in...

QoD: What is the right age to get a credit card?

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Mar 10, 2019
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Question of the Day, Credit Cards
Answer (based on survey of 1,000 adults): 22 Questions: Do you have a credit card? If yes, when did you get it? If not, when do you hope to get one? Would you feel comfortable asking your parents to help you get a credit card as it is difficult to get a card before the age of 21 unless a parent co-signs or  you have a job?  Are you confident that you can manage having a credit card? Explain your answer.  Here's the ready-to-go slides for this Question of the Day...

QoD: 90% of credit card company terms and conditions require reading at what grade level?

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Mar 06, 2019
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Credit Cards, Question of the Day, Personal Finance, Research
Answer: College  Questions: Do you think it's important to read the terms and conditions for financial products? Why or why not? Did you ever wish that you had read the terms and conditions for anything that you have ever bought? Explain.  What do you think are some terms that you would want to know about before signing up for a credit card?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Visible...

Question of the Day: Can you name ONE of the three most frequent ways that consumers, under age 25, establish credit?

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Feb 06, 2019
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Question of the Day, Credit Cards, Paying for College, Student Loans, Credit Reports
Answer: Credit Card (35.6%) Student Loan (19.9%) Retail Credit Card (13.7%) Questions: Why do you think that credit cards tend to be the entry point for establishing credit for so many consumers?  Almost no one in any age group establish their credit for the first time by taking out a mortgage. Why do you think that is true?  How do you think that you will establish credit?  Here's the ready-to-go slides for this Question of the Day that you can use in your...

Best of 2018...NGPF Questions of the Day

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Jan 03, 2019
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Question of the Day, Career, Budgeting, Credit Cards, Employment, Current Events, Personal Finance
Questions of the day a.k.a. "bell-ringers" are a great way to get the conversation started about a money topic. What makes a good question of the day? It's relevant, timely and thought-provoking. Subscribe here and you will get a daily Question of the Day delivered to your inbox during the school year. See how many of these top 10 QoD from 2018 you can answer:) #`10: What 3 jobs are projected to be the fastest growing over the next decade? #9: What percent of 18 year old college students have...

Best of 2018...Most Engaging Blog Posts

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Jan 01, 2019
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Personal Finance, Credit Cards, Cryptocurrencies, Behavioral Finance, Policy, Paying for College
Happy New Year! Continuing the "Best of 2018" theme, I wanted to share with you the blog posts that engaged readers the most in 2018. To measure engagement I focused on two factors. I looked for pages that attracted hundreds of visitors and had the highest average time spent per page. Time spent on the page was a good indication that educators/students read the blog post in its entirety and engaged in the mini-activity described in it. For those new to NGPF, several of the posts below are...

FinCap Friday: Do We Have Your Interest Yet?

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Dec 20, 2018
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FinCap Fridays, Savings, Credit Cards, Student Loans, Stocks
The Federal Reserve hiked interest rates earlier this week which provided an awesome opportunity for a FinCap Friday focused on that event. How do the decisions of this august body percolate through the economy? Check out this FinCap Friday including Yanely's awesome explainer video to learn more:  --------------------------- Looking for more FinCap Fridays? There's more where this came from! Check out the other seventeen here. ...

NGPF Podcast: Tim Talks To Enterprising Educator Nick Murja of Palo Duro High School (Amarillo, TX)

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Dec 14, 2018
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Podcasts, Teaching Strategies, Tips for Teachers, Credit Cards
Nick Murja’s odyssey to achieving a debt-free life started when a sudden epiphany led him to change the way he viewed money. He doubled down and saved, invested wisely, and even started his own handful of side hustles in order to reach his goal. He publicly announced his progress towards his goal which engaged his students even more! Now this Palo Duro High School teacher is on another mission: teaching his students the financial lessons he wished he knew when he was their age. Enjoy!...

Question of the Day: 2/3 of Gen Z practice this good credit card habit. What is it?

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Dec 04, 2018
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Credit Cards, Question of the Day
Answer: Pay off their credit card balance in full every month Questions: Why is it a good idea to pay off your credit card bill in full every month? Why do you think that so many cardholders struggle to do this? How can you establish this habit of paying off your credit card in full every month? Be specific. Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (NerdWallet): The oldest members of “Generation...

FinCap Friday: Tappity-Tap!

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Nov 29, 2018
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FinCap Fridays, Current Events, Credit Cards, Payment Types, Debit Cards
More and more people opt into using mobile payments because of the speed and ease of transacting, but now Chase and VISA are jumping on the opportunity to offer a faster and easier way to make payments! In this week's segment, we take a closer look at contactless payments, also known as "tap to pay." Click the image below for the slides.   ---------  Be sure to check out more FinCap Fridays here. ...