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2.6.3.A1

CreditCardOfferVocabulary

TotalPointsEarned

TotalPointsPossible

Percentage

Name

24

Date

Class

Step1:Findandhighlighteachofthevocabularywordsinthetablebelowinthecreditcardofferprovided.(8
points)

Annualfee
Creditlimit
PenaltyAPR
VariablerateAPR

VocabularyWords
Annualpercentagerate
Balancetransfers
(APR)
Introductoryrate
Latepaymentfee
Preapproved
Returnpaymentfee

Creditcard
Overthelimitfee
SchumerBox

Step2:Reviewthehighlightedwordsinthecreditcardoffer.Whichwordsareyounotfamiliarwith?Write
sixwordsthatyouarenotfamiliarwithinthefirstcolumnofthetablebelow.Usingyourinformationsheet,
writethedefinitionofeachwordinyourownwordsinthesecondcolumn.(8points)
Word

Definition

Whythismatters

A yearly fee that may be charged for


Annual Fee having a credit card

The
act of transferring debt from one
credit card account to another

Balance transfer

A plastic card that can be used to


Credit Card access a line of credit

The
cost of credit expressed as a
yearly interest rate

APR

charged when holder does not


fee
Late payment make credit card payment

charged if credit card account


fee
over the limit balance goes over set price limit

Step3:Afterinstruction,completecolumnthreebydescribingwhyitisimportanttounderstandeachword
whenevaluatingacreditcardoffer.(8points)

TakeChargeTodayMay2014UnderstandingCreditCards
FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstituteatTheUniversityofArizona

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