Category: Credit Cards

What's New With Managing Credit (2021)

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Aug 14, 2021
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Credit Cards, Credit Reports, Credit Scores
Consumer debt rebounded in the second quarter of this year after falling off during the pandemic. Much of this recent activity was driven by mortgages. Credit card debt is up a bit, but still $140 billion below December 2019 levels. (Reuters) Many are still struggling to pay their balances, and have seen credit limits decreased and accounts closed. (ABC7news)   BNPL (Buy Now, Pay Later). With that as background, the credit management tool talked about most in the news in recent months has...

Question of the Day: What states saw the biggest decrease in average credit card balance in 2020?

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May 18, 2021
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Question of the Day, Credit Cards
Answer: Alaska and California with a decrease of 18%   Questions What changes in credit card debt occurred in your state in 2020? What do you think were the causes of this decline in credit card balances? How would you strategize to avoid carrying credit card debt if possible? How would you budget to pay off debt, whether it's a credit card, student loan, car loan, etc? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind...

Interactive: Credit Card Statement

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May 04, 2021
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Credit Cards, Interactive
Are you looking for an interactive to help students learn more about the fine print of a credit card statement? You’re in luck. The AEI Managing Money: Reading a Credit Card Statement is perfect and can be paired nicely with our activity and teacher tip video The Fine Print: Credit Card Statement.   Check out our On Demand: 3 Lesser-Known Cards to learn more about a secured credit card, as well as a payroll card and prepaid card. It is free PD, one hour at a time, on your own time....

Question of the Day: What percent of Americans used contactless payments during the Covid-19 pandemic in 2020?

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Mar 23, 2021
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Question of the Day, Credit Cards
Answer: Over half! [51%] Questions: Have you used your mobile phone to make contactless payments at stores this year? Why or why not?  Digital wallet transactions account for over 10% of global digital transactions. What do you think that figure will be in 10 years? Why? Recent research suggests that those using digital wallets often exhibit riskier financial behavior. Why do you think this is the case?   Here's the ready-to-go slides for this Question of the Day that...

Question of the Day: When were women first able to get credit cards without a co-signer?

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Mar 21, 2021
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Question of the Day, Credit Cards
Hat tip to Beth Tallman for recommending this question.  Answer: 1974 with the passage of the Equal Credit Opportunity Act of 1974, which “prohibits discrimination on the basis of race, color, religion, national origin, sex, marital status, or age in credit transactions.”  Questions: Why do you think it took until 1974 for women to apply for a credit card without a co-signer?  What do you think has changed since 1974 as it pertains to women's participation in the...

5 Resources to Celebrate National Consumer Protection Week

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Mar 05, 2021
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Interactive, Credit Cards, Financial Scams
This week reminds us of the importance of equipping our students with the strategies and tools they need to protect themselves. Here are five of my favorite resources to do just that with your students: #1 INTERACTIVE (Game): Shady Sam Welcome your students to their first day of work at Shady Sam's, where their job is to make as much money as possible off the backs of hard-working Americans. How? By issuing loans that make a hefty profit.  #2 FULL LESSON: Identity Theft Identify different...

Best of 2020: Most Visited NGPF Unit Pages

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Dec 23, 2020
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FinCap Friday, Credit Cards, Credit Reports, Investing, Math, Credit Scores, Savings, Paying for College
Our Unit Pages are the most visited pages on the NGPF website, which had over 5 million pageviews in 2020. Why are these pages so popular? Teachers tell us it's because they can see all NGPF resources on a given topic (unit) on ONE page. So, whether you are looking for 45 or 90 minute lessons or just individual resources (activities, projects, FinCap Fridays, questions of the day, case studies or math activities), you can find them on the unit page.  Here were the unit pages that...

Question of the Day: $750 Playstation 5 Bundle on credit...If you make the minimum payments, how long before this credit card bill is paid off?

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Dec 14, 2020
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Question of the Day, Credit Cards
Answer: 5 Years and 9 Months   Questions: Considering the cost of this Playstation 5 Bundle, do you think this is a good idea? Explain your answer. What big-ticket items or once-in-a-lifetime experiences do you think are worth spending money on? How could you reduce the amount of time required to pay off this credit card bill? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind the numbers (from...

Question of the Day (Updated): How many credit cards does the average Gen Z have?

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Dec 07, 2020
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Question of the Day, Credit Cards
Answer: 1.8 Questions: Do you have/plan to have a credit card before you turn 21? Why or why not? Do you think it is easier/more difficult to get a credit card when you are young? What are two major differences between a debit card and a credit card? What do you think is the ideal number of credit cards to have? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind the numbers (from Experian) "In the...

My 9 Favorite Interactives to Teach Credit

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Nov 18, 2020
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Interactive, Credit Cards, Credit Scores
Here is my current ranked list of my favorite credit interactives that could be used in our Managing Credit or Types of Credit units.  #1 INTERACTIVE: Shady Sam: This is our existing companion handout to the engaging and easy to play credit game Shady Sam.  #2 INTERACTIVE: FICO Credit Scores: This is our existing virtual adaptation companion handout to the wildly popular FICO Credit Score Simulator.  #3 INTERACTIVE: Play the Credit-Score Game. We used pieces of the WSJ interactive...

Question of the Day: You purchase a new TV with a store card offering 0% APR (pay no interest) for 18 months. What happens if you don't pay in full within 18 months?

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Nov 18, 2020
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Question of the Day, Credit Cards, Research
Answer: 53% of store cards have deferred interest features meaning you will pay interest going back to the date of the purchase which can be quite costly.   Questions: Black Friday is right around the corner..why do you think these 0% APR offers are so popular at this time of the year?  How often do you think consumers forget to pay off the full balance and get hit with these deferred interest surprises?  Do you think offers like are a good idea for consumers? Why or why...

5 Resources to Decipher the U.S. Debt Clock

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Nov 10, 2020
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Interactive, Student Loans, Credit Cards, Economics
The U.S. Debt Clock illustrates our soaring debt by the second. As sobering as it is, it can serve as a springboard into multiple personal finance topics.  Student loan debt By the time readers are engaging with this article, our national student loan debt may have surpassed $1.7 trillion. Use this to ignite a discussion and select one of these three interactives to extend their learning. Credit card debt American consumer credit card debt is approaching $1 trillion, and I have to wonder,...

Question of the Day (Updated): What percentage of adults have carried credit card debt in the past year?

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Oct 12, 2020
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Question of the Day, Credit Cards
Answer: 52% of families held credit card debt in 2019 Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   From the Federal Reserve Board: "In people’s financial lives, credit cards can serve different functions at different times. For people who pay their balances off each month, credit cards are mainly a form of payment convenience and can be thought of more or less the same as using cash. For those who carry a balance,...

Reading List for October 9-11

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Oct 09, 2020
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Economics, Investing, Credit Cards, Paying for College
Economy Jobless claims over 800,000 last week. (Yahoo Finance) (Graph below) “Last hired, first fired? Employment losses across age groups.” It is not a pretty picture for young workers. (FRED) If you ever wanted to live in NY, it hasn’t been this cheap to rent an apartment in Manhattan since 2013! (Bloomberg) On the other hand, Denver is a hot real estate market. (CNBC)   Investing On one hand: Warren Buffet values dividends. (USA Today) And on the other hand: Investor...

Question of the Day (Updated): What percent of Americans who have credit card debt won't be able to pay it off within a year?

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Sep 08, 2020
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Question of the Day, Credit Cards
Answer: 70% Questions: What do you think keeps so many Americans from paying off their credit card bill every month? Many who don’t pay their credit card bill every month will just pay the minimum (or about 3% of what they owe). Is that a good strategy? Why or why not? Why is it so important not to carry credit card debt month to month? What advice would you offer to a friend who’s trying to pay down their credit card bill while still managing their other expenses? Click here for...