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Credit Card Powerpoint Template

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Credit Card

Transcript: - Your overall debt = how much you owe on all your accounts & how much credit you have available to use - Your Credit history = when you opened and used each your accounts & how recently you applied for new credit card & recent good credit history following past payment problems. What is Credit? Overall , a good way to keep debt in check is to follow the 70 - 20 - 10 Rule. Spend 70 percent of your income on living expenses such as rent , food , and gasoline. Save or invest 20 percent of your income for financial goals and emergency expenses. Spend 10 percent on debt payments for items such as credit cards and car and school loans. - Credit Report tracks your success in managing money responsibly - Credit report is simply a record of you personal financial transactions ( or credit History ) - Lenders look at it to see how well you've managed credit in the past. - Your score changes over time as your finacial situation Changes. - Credit reporting agencies , sell credit report information to businesses that are interested in finding out your creditworthiness - Lenders will purchase and review your credit report anytime you apply for a credit card or loan How credit Scores are determined Conclusion The Good and The Bad design by Dóri Sirály for Prezi 70 - 20 - 10 Rule The number of ways you can hurt your credit history and credit score Fortunately building a good credit history just takes discipline : - The higher the interest rate and the longer the loan term, the higher the cost of credit. To pay less interest and pay off your balance sooner , pay more than the minimum payment amount. - Making minimum payments raises the cost of whatever you bought in the first place, and can take a very long time to pay off. - Charging small , everyday purchases will come back to haunt you if you don't pay your credit card balance off every month. - Having too much available credit or debt for your income level will make you look risky to a lender. Rewards - Convenience - Protection - Emergencies - Opportunity to Build Credit - Quicker Gratification - Special Offers - Bonuses Factors tied to the cost of using credit include : The Titans of Credit The Potential Risks - Interest - Overspending - Debt - Identity Theft Understanding your Credit Score - Making a late payments. Even just one missed payment can affect your credit report. - Writing checks when you don't have enough money in your account to cover them ( Bouncing Checks ) - Having a lot of credit cards and loans - Maintain high balances on your credit cards and loans. - Changing credit cards frequently . One way to get started is by asking a parent or another trusted adult to co-sign a credit card application or car loan for you. This means your co - signer is equally responsible for paying the debt. But if you don't pay the bill, it also means your co - signer is on the hook (legally and financially). Annual Fee - Usually Charged by credit card companies, the annual fee is yearly charge you pay for the privilege of using credit. Credit Limit - The credit limit is the maximum amount of credit a lender will extend to a customer. Finance Charge- Usually seen on credit card statements , a finance charge represents the actual dollar cost of using credit to maintain a balance. Origination Fee - Usually associated with home loans m the origination fee is charge for setting up the loan. Grace Period - The grace period is the length of time you have before you start accumulating interest. If you plan to pay off your balance each month, make sure to get a credit card with a grace period of 25 or more days so you can avoid paying interest on your purchases Rachelle Boddy Carl Liniarski Ashley Larabell Hannah Vansickle Credit means someone is willing to loan money - called principal - in exchange for your promise to repay it, usually with interest. Interest is the amount you pay to use someone else money . The higher the interest rate , the higher the total amount you pay to buy something on credit. - Payment history = information about how you make your payments on credit card. - Accounts in collection or past due, and how long past due. - Information in public records, such as bankrupt , judgements , liens, wage attachments or child support. Look out for : Before you can decide whether credit is a good choice for you , it's important to know all the rewards and risks of using it. How to Avoid the Pitfalls - Banks , credit unions , stores , and gas stations. - Some types of cards can be used just about anywhere , some only at a specific - No payoff deadline - Monthly minimum payments vary, based on balance. - usually has the higher rate than Installment loan , student loan , and mortgage. Institution and Features - Always pay your bills on time - If you have a savings account , it's a good to make additional regular deposits, no matter how small. - Be Choosy about your credit cards and loans. - Maintain a low balance on one card and pay it off each month than to have no balance

Credit Card

Transcript: 10.99-20.99 How Long? Card Name: There is no Annual Fee Late Payment Fee? Standard APR: 10.99%-22.99% Minimum Finance Charge? -Because it's Pink and it's Pretty There is no late payment fee -2% cash back on all purchases Cash Advance Rate? 0% for the first 12 Months 24.99% Introductory Balance Transfer Rate Standard Balance Transfer Rate? Introductory APR rate: 0% for the first 12 months -What the card looks like- Why Pick This Card? The End :) -0% fraud liability if your card is stolen or lost No Minimum Finance Charge Annual Fee? Rewards/Incentives Annual Percentage Rate What makes this card different? -There is no Late Payment Fee Pretty IF YOU WANT TO SEE AN EXAMPLE ON HOW TO USE THIS TEMPLATE, PLEASE CHECK: https://prezi.com/n-8ibkiw881r/number-systems/

Credit Card

Transcript: This magic plastic card works by charging your bank account. When you swipe your credit card, the money gets charged. You need to pay back the amount in timely fashion to your credit company. Along with your initial charge; you must also pay interest. When Julia buys her new laptop, the money is not deducted straight from her bank account. She must off however much she can at the end of the month. When John buys his new awesome television he still has the same amount of money in his account, until he starts paying it off in a timely manner. More credit and More credit and MORE! How does this magic plastic card work? Some places have a fee that must be paid annually for the use of their plastic magic. Finance charges are for the borrowing of the money. This includes interest and service charges. The grace period is a period of time that is okay with the company and yourself before you need to pay interest. So when Julia bought her laptop, if she paid within seven days she would not be charged with interest. Being the amazing money worker she is; she managed to do so. John on the other hand had only three days and was in fact charged with interest. Annual Fee and other such Credit cards are considered to be revolving credit.. This means that once you have paid them off you can use it again and again and again and again and again and again and again. So once Julia has paid off her laptop in six months and is debt free- she can do the whole process over if she pleases. In a year and a half when John is debt-free, he too can start over. By: Jojo and Noa Lessons to be learned: When a credit is safe, or secured, it means that the account is backed up by a savings account. If it is unsecured or unsafe it is not backed up by anything. This could cause you to fall deeper and deeper and deeper into debt. (and deeper). Julia who has been using credit for quite sometime now know to secure her credit just in case. that way if she fails to pay... her credit score is saved! However John does not know to do this. Therefore when he accidentally misses his payment because he was in the hospital from a bad car accident (not his fault) his already low credit is further hurt and will be harder to make up. Applying ALWAYS PAY ON TIME: if you don't it will affect your credit score and cause you to pay more money for everything Be Wise! If you can't pay it back- don't buy. Never pay the minimum amount: it causes you to pay the maximum amount you possibly can to the credit company. It benefits them, but not you. INTEREST!! (and rates) Safe.... or Not safe (dun dun dun dunnnn) The company you use will send you e-alerts for what you need to pay them, how much you have spent, and just a reminder as to when you need to pay by. It also tells you the smallest amount you can pay per month. Because John was in the hospital, he couldn't afford to pay $75 that month. He received his alert and ignored it. He then got another one that held the amount in it and realized he could actually pay. he paid the smallest amount. However because he did this, it did not help him get out of debt and he had to make his payments late the next month, hurting his credit score even more. Julia saw her e-alert on her new computer. She realized she had forgotten about it and was quite thankful that they sent it. She paid the needed amount and continued on with paying off her debt with excellent credit. WARNING! Interest is the percentage you must pay to your credit company along with however much you borrowed. When Julia bought her laptop she spent/borrowed $700. She wants to pay this off over six months. She must then pay $117.89 to the credit company a month. The total money she then spent with interest is $707.34. That means she spent an extra seven dollars on interest rather than buying it all at once. When John bought his t.v. for a thousand dollars, he could only pay $75 a month. It would take him 17 months to pay off. He ends up paying $1,275 for the T.V. That is about 25% more than the initial amount. Julia and Jonathan: Credit decision John and Julia go into the bank. They both want to get a credit card. John has never had a credit card before, while Julia has had a couple. Julia has excellent credit score, but John does not. The accountant checks their credit report. Julia's is amazing. She has had credit cards and always pays them off on time. She is not in debt from her other credit cards and has an excellent credit score. However when the accountant looks at John's, there is no credit score. Julia receives her card with 3.6% interest. John has 23.66% interest. Now they have plastic, magic cards.

Credit Card

Transcript: Credit Card Character Do you pay your bills on time Have You used Credit before Capacity Do you have a permanent job How much do you earn Capital How much money do you have in a savings account What assets do you have and what is their value Consequences Credit Rating high interest rate Getting Credit Assets may be used to repay liablities encourage to use money that they don't have Prime rate and Interest rate minimum of 70k income No Fee Scotiabank Value Visa Annual fee $120 Raise Interest Rate Introductory Interest rate 1.99& Disadvantages using credit Annual fee $29 Scotiabank Credit Rating will be affected Anual Fee $0 A measure of credit worthiness Harder to get a job or promotion additional benefits Credit ratings agencies determine credit quality in order to provide bond ratings What happens when you cannot pay? Credit Quality Aspire World Master Card Credit Card Vince Chavez High Interest Rate Don't have to carry money helps build a credit line Interest rate 16.99% may offer product warranty credit card fruad CIBC Aero Classic Visa Card Ability to pay off any debt Advantages using credit

Credit Card

Transcript: Bad Spending & Bad Payments Causes of Credit Card Debt Avoid Credit Card Debt Manage your Credit Card Thanks for listening Credit Card Debt Credit Card Debt And how to avoid it I know my voice is annoying and this Prezi sucks. Kisses darlin' Xoxo :* Tyra Harris & Chase Garcia Buy a credit card with low interest rates Keep track of your balance Do NOT over buy Use card only for emergencies Track account for any suspicious activity

Credit Card

Transcript: Credit Card Bills Most password are easily taken "When hackers stole 250,000 passwords from Twitter, some if not all of those victims could become a target for identity theft." While a lost or stolen wallet or PDA may simply mean the loss of your cash and credit cards, it may also be the beginning of an identity theft case. They now have wallets where you can prevent them from taken all of your information Debit Card Remember to check your balance on a regular basis. Federal law doesn't protect debit cards to the same degree as credit cards when it comes to fraud. If you notify the bank within two days of discovering the card was lost or stolen, your loss is limited to $50. After two days, this amount jumps to $500, and after 60 days of receiving the statement with the fraudulent charges, your loss may be unlimited. Bills are being stolen while its still in the mailbox To prevent from getting stolen is to put them on a lock They can steal my bills as long as they pay the bills!!!!! Identity Theft Mail When an identity thief has a victim's Social Security number, he or she has a passport to commit Social Security fraud, identity theft, and many other crimes. Social Security cards should be stored in a safe location at home, away from credit cards, drivers' licenses, and other personal information. Social Security Number Credit card can be stole in many way Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. If your credit card gets stolen, make sure everything is canceled. Passwords

Credit Card

Transcript: Credit Card Diana DIppolito 8 Nathalie Molina 17 Materially credit card is a plastic piece, the size of most credit cards is 85.60 mm × 53.98 mm Each instrument contains the identifications of the issuer and affiliate authorized to use it, as well as the time period during which the instrument is upheld. Usually also contain the signature of the legitimate bearer Who and When he did it? Was invented by Alfred Bloomingdale and Frank McNamara in 1950. Since then to date growth has been exponential. Because he did it ? As he did it? Currently credit cards and debit cards are still renovating . We are seeing gradually being deprecated magnetic band chips , safer yet. Further work is in credit cards with RFID technology , so that one will have to bring them to the reader without requiring its introduction therein. He did it to avoid having to carry cash and ask the bank to pay many same As has evolved ? if , in the acutualidad the majority of the population has a minimum one and is used on any occasion , from buying food to clothing It is still used ?

Credit Card

Transcript: Who created credit cards? How do they work? Credit Cards were made to replace cash. The Diner's Club Card was the first credit card, created by Frank McNamara, Ralph Schneider and Matty Simmons. What do they do? The first credit card was made in the New York,in the United States. Why were they created? When were they created? Credit Card They allow people to make purchases that are charged to their account and billed periodically. Where do credit cards come from? The Diners Club Card was created in 1950. Purchasers swipe their card through an Electronic Verification System that verifies if the card is valid, and pay perioducally when they get billed.

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