Credit Cards David Smith

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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 Amount of money you ha*e left on
your credit card after su+tracting your current +alance.
-. )ist the cash ad*ance A01: $1.22 purchases A01: 1".22'
". 3escri+e what a +alance transfer is and what happens 4his is charged when you
transfer a +alance from another credit card. 4he credit card company may send you checks to
pay o5 the other credit card. 4he +alance is transferred when you use one of these checks to pay
the amount due to the other card.
.. Where should the payment +e mailed6locate address7 089 card ser*ices 0: +o; 222
<oney*ille, <A
=. What is the customer>s new +alance !$"(-.$#
/. ?ow much was the @nance charge (-.$# What is a @nance charge 4his is calculated
+y multiplying the a*erage daily +alance, the daily periodic rate, and the num+er of days in the
+illing cycle.
Find: Credit Card Skill Builder and answer the following:
1. )ist the di5erences +etween the following cards:
0remium *s. Gold *s. 0latinum
$. 0ick a card, charge your items.
(. ?ow much did you spend&&&&&&&&&&&
-. What is your minimum payment due &&&&&&&&
". 0ay the minimum. What were your interest charges &&&&&& 4otal 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 Bonathan <oneymaker work for 1eally 8ig Company Cnc.
$. )ocate his loan through )onecomet Credit.
What is his current +alance #
(. What was his highest +alance 11,""2
-. What type of loan was this Automo+ile
". Cs the loan opened or closed Closed
Find: Credit Scores
1. What is a credit score and what does it tell you? Dour credit score reEects your
creditworthiness at a gi*en point in time. 9sed +y mortgage lenders, car loan lenders,
credit card companies, landlords, cellFphone companies, and e*en potential employers,
your score is the key to your @nancial life.
$. )ist the " categories and their percentage of impact: 1ecord of paying yours +ills on
time 6("'7, 4otal inde+tedness 6(#'7, )ength of Credit ?istory 61"'7, Aew Accounts and Credit
re%uests 61#'7, Credit <i; 61#'7
(. )ist " ways you can impro*e your score: pay your +ills on time, get current with missed
payments, keep +alances low, don>t close unused credit cards, Check your credit report.
-. What is the +est score range =.#F/"# 4he worst score range "##F"=2
". What are $ things that create a %uick hit on your credit score
9npaid medical +ills and parking tickets can hurt your credit score.
?ea*y credit use can lower your score, e*en if you pay large +alances o5 in full in
a short time.