Credit Cards

Go to: www.aie.org
Click on student and After College and managing your money
Find: Reading a Credit Card Statement and answer the following:
1. What is the minimum payment amount !"#$""""
%. What is the re&uired minimum payment percentage ".$%%""""'
(. )ist the total credit limit a*aila+le: !""%,-.#./"""
What does total credit limit a*aila+le mean" 0he ma1imum amount of credit
a*aila+le for +orrowing for a speci2c person. 3e cannot +orrow more than #,$$$ in any gi*en
month.
-. )ist the cash ad*ance A45: "%1.66'"""""""" purchases A45: """""1#.66'""""""""
#. 7escri+e what a +alance transfer is and what happens "A +alance transfer is when a
credit card +alance is transferred from one card to another. For e1ample 8 ha*e % cards. 8 owe -$
on card A and 1$ on 9. 8 can transfer the -$ o*er to owe #$.
.. Where should the payment +e mailed:locate address; ""4< 9<= 666 >oney*ille, >A ?
66666@6666
A. What is the customerBs new +alance ""%#(-.%$
/. 3ow much was the 2nance charge "(-.%$"""""""" What is a 2nance charge """A
monthly charge of interest and other fees, such as credit ad*ancements.
Find: Credit Card Skill Builder and answer the following:
1. )ist the diCerences +etween the following cards:
4remium *s. Gold *s. 4latinum
%. 4ick a card, charge your items.
(. 3ow much did you spend"""""""""""
-. What is your minimum payment due """"""""
#. 4ay the minimum. What were your interest charges """""" 0otal costs """"""""" Dum+er of months to pay oC """""""""
Find: Credit Card Repayment
1. A %' minimum payment, !1$$$ at 1(' interest would +e paid oC in ""1%.-"""""""
years
%. A 1$' minimum monthly payment , !1$$$ at 1(' would +e paid oC in "("" years
Find: Credit Scores and Reports and Reading Credit Report
1. Who does Eonathan >oneymaker work for """5eally +ig company inc """"""""""
%. )ocate his loan through )onecomet Credit.
What is his current +alance ""$""""""
(. What was his highest +alance ""11,##6"""""""""
-. What type of loan was this """automo+ile""""""""
#. 8s the loan opened or closed """closed""""""""""
Find: Credit Scores
1. What is a credit score and what does it tell you Four credit score reGects your credit
worthiness at a gi*en point of time. Hsed so +anks or lenders know if they can trust you to pay
on time.
%. )ist the # categories and their percentage of impact:
Credit mi1 1$'
Dew accounts and credit re&uiests 1$'
)ength of credit history 1#'
0otal inde+tedness ($'
4ayment history (#'
(. )ist # ways you can impro*e your score:
4ay +ills on time
Get updated with missed payments
Hnderstanding your loans and what wont remo*e them
Contact your +ank to work it out. 0hey want to help.
7onBt spend what you canBt aCord.
-. What is the +est score range ""A.$@/#$"""""""" 0he worst score range """#$$@
#A6""""""""""""
#. What are % things that create a &uick hit on your credit score 3ea*y use, e*en if you
pay +ack in time. Hnpaid medical +ills and parking tickets.