Question of the Day (Update): What is #1 reason that people give for paying their credit card bill late?

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Aug 31, 2020
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Question of the Day, Credit Cards

Answer: 44% Forgot to make the payment

Questions:

  • Why do you think that so many people forget to pay their credit card bill? 
  • What do you think are some of the consequences of not paying your bill on time? 
  • What are steps that you can take so you are not one of those "forgetful" people who don't pay their bills on time? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (WalletHub):

Missing a credit card payment can start a chain reaction of negative events. First off, there are late fees of up to $29 for a first offense and $40 for another within six months. In addition, cardholders not already carrying a balance between months will lose their grace period, and interest will start accruing immediately on both new purchases and the unpaid balance.

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Help your students understand the consequences of not paying their credit card bill on-time with this NGPF Fine Print: Credit Card Agreement

 

About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.