Economics 12-Credit -2

• Economie
• Secondary Education

Is it a credit or a debit card? How do you distinguish it?

Chapter2.1: Credit

Pages 582-585

Objectives

Summarize the points taken care of when choosing a credit card.

Analyze the steps taken when the credit card is lost.

Discuss the credit card statement.

Credit cards

Credit card companies are eager to get young adults to use their cards. But these companies offer a variety of terms, and some of them can be costly. Before you apply for a credit card, carefully examine the terms.

What are the different types of credit cards you are aware of? Mention which among these cards will you choose and why?

Who is a person who will assume responsibility for the
debt if you fail to repay the loan?

1. Business
2. Consignor
3. Service
4. Co-ops

02:03

What are the things to take care when you loose a credit card?

When do you do notify your bank or
credit card companies
immediately to limit
your liability?​

Discuss in your group how to read the information on the credit card statement.

When you pay by credit card, you will receive a record of what you have
spent each month called a _____________

1. Debit card
2. Information card
3. Statement
4. Credit card

How do credit card companies make profit?

Explain the lesson in one sentence.