Question of the Day: What do cardholders fear most when using a credit card?
Answer: Security concerns (skimming, ID theft), noted by 26% of respondents
Behind the numbers (from Credit Cards Explained):
- Do you know anyone who has had security problems with their credit card?
- Who is responsible for the losses if someone else runs up big bills on YOUR credit card?
- What is/will be your biggest fear when using a credit card?
- How can people overcome their fears of #2 (accruing too much interest) and #3 (relying too much on credit)?
No better way to learn about credit card "gotchas," then to read an actual credit card agreement. Check out NGPF Fine Print: Credit Card Agreement and give your students a strong foundation to understand how it all works.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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