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 money left on your card after
su+tracting from your current your current +alance.
-. )ist the cash ad*ance A12: """%1.33"""""" purchases A12: """"1#.33"""""""""
#. 4escri+e what a +alance transfer is and what happens 0ransferring a +alance from
another credit card, and checks are sent to you until you pay o5 the +alance of the other card.
.. Where should the payment +e mailed6locate address7 189 CA24 :;2<=C;: 1> 8>? 333
@>A;B<=));, @A 33333C3333
D. What is the customerEs new +alance ""0he current allowance dued to pay."""""""""""""
/. Fow much was the Gnance charge ""(-.%$""""""" What is a Gnance charge """"4ollar
amount used to pay the credit card +ill.""""""""""""
Find: Credit Card Skill Builder and answer the following:
1. )ist the di5erences +etween the following cards:
1remium *s. Gold *s. 1latinum
%. 1ick a card, charge your items.
(. Fow much did you spend"""""""""""
-. What is your minimum payment due """"""""
#. 1ay the minimum. What were your interest charges """""" 0otal costs """""""""
Aum+er of months to pay o5 """""""""
Find: Credit Card Repayment
1. A %' minimum payment, !1$$$ at 1(' interest would +e paid o5 in """1%.-""""""
years
%. A 1$' minimum monthly payment , !1$$$ at 1(' would +e paid o5 in """1%.-"""""""
years
Find: Credit Scores and Reports and Reading Credit Report
1. Who does Honathan @oneymaker work for 2eally 8ig Company =nc.
%. )ocate his loan through )onecomet Credit.
What is his current +alance ""$""""""
(. What was his highest +alance """11,##3""""""""
-. What type of loan was this """Automo+ile""""""""
#. =s the loan opened or closed """"Closed"""""""""
Find: Credit Scores
1. What is a credit score and what does it tell you Your credit score refects your
creditworthiness at a given point in time. Used by mortgage lenders, car loan lenders,
credit card companies, landlords, cellphone companies, and even potential
employers, your score is the key to your !nancial li"e.
%. )ist the # categories and their percentage of impact:
1.7 Credit @iIC 1$'
%.7 1aying +ills on time (#'
(.7 0otal inde+tedness ($'
-.7 )ength of credit history 1#'
#.7 Aew accounts and credit re&uests 1$'
(. )ist # ways you can impro*e your score: 1ay your +ills on time, keep +alances low,
donEt close current +alanced card, check credit report, get current with unpaid credit.
-. What is the +est score range """""D.$C/#$""""" 0he worst score range """"#$$C
#D3"""""""""""
#. What are % things that create a &uick hit on your credit score 9npaid medical +ills,
hea*y credit use.