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Subject

Math, Science & Technology

Lesson Objectives

Students will compare and contrast credit card fees and rates by reviewing at least three credit card offers.

Duration

50 minutes: Entire activity

Description

Individually or in teams, students evaluate credit card offers by completing a worksheet that contrasts credit card fees and features. Credit card offers vary widely within and between financial institutions. Students who are aware they can actively shop for credit, not be sold credit, and will take the time to compare fees and rates. This activity can assist students in seeing past the freebies to the real costs of credit.

This lesson is one part of a larger unit, Credit Cards. While completing this unit, students will learn about how to manage credit in addition to the influence of media on our perception of the good life and how we use credit. Students will also learn about how to shop for a credit card, the use of credit by college students, and the significance of their credit score and report.

Consumer Jungle units are designed to be flexible, and can be used as one integrated unit or individual segments. If you are planning to use the unit in its entirety, please see the Related Content field for the additional lessons. The End of Unit Assessment field contains links to the vocabulary and concept quizzes for the unit.

Materials

• Copies of the Shopping for a Credit Card student worksheet
• Shopping for a Credit Card PowerPoint
• Copies of Credit Card Offer 1
• Copies of Credit Card Offer 2
• Copies of Credit Card Offer 3
• Teacher copy of Answer Key_Credit Card Offer 1
• Teacher copy of Answer Key_Credit Card Offer 2
• Teacher copy of Answer Key_Credit Card Offer 3
• Computers with Internet access

Step-by-Step Procedure

1. Either pass out Credit Card Offers 1-3 and the Shopping for a Credit Card student worksheet, or direct students to www.cardweb.com (Note: Most of the credit card offers on Cardweb will not have as much information as the provided credit card offers).
2. On the left-hand navigation bar, click on Search Cards. The website will return a list of almost 500 credit card offers that students can use for comparison.
3. Ask students to compare multiple offers and find three good credit cards.
4. Discuss students findings in class.

Related Content

• Checking Your Credit Report
• My Credit Card Plan
• Priceless
• The Good Life
• The Credit Safari
• Find the Fees
• Credit Wisdom

End of Unit Assessment

Students can take the vocabulary and concept quizzes via pen and paper.

Downloads:

• Credit Cards Vocab Quiz
• Credit Cards Concept Quiz

Content Provider

Consumer Jungle is dedicated to providing young adults with the life skills they need to become responsible, informed consumers. Consumer Jungle provides engaging and relevant consumer education curricula covering a variety of topics such as credit cards, transportation, living on your own, personal finances, telecommunications, health, and e-commerce fraud. Developed with input from teachers, students, and parents, Consumer Jungle delivers interactive games, activities, and relevant information directly to the home or classroom.

Website(s)

• Consumer Jungle -http://www.consumerjungle.org

Related Academic Standards

New York State

HPF.FC.C.3.1.A Students analyze a wide range of factors related to managing personal resources to balance obligations to work, family, and self.

HPF.FC.C.3.1.B Students understand the basics of an individual/family budget and plan to obtain, use, and protect money and assets.

WST.9-10.6 Use technology, including the Internet, to produce, publish, and update individual or shared writing products, taking advantage of technology's capacity to link to other information and to display information flexibly and dynamically.

WST.11-12.6 Use technology, including the Internet, to produce, publish, and update individual or shared writing products in response to ongoing feedback, including new arguments or information.

MST2.C.ES.IS.1.1 Students access, select, collate, and analyze information obtained from a wide range of sources such as research data bases, foundations, organizations, national libraries, and electronic communication networks, including the Internet.

MST7.C.C.CO.1.2 Students analyze and quantify consumer product data, understand environmental and economic impacts, develop a method for judging the value and efficacy of competing products, and discuss cost/benefit and risk/benefit tradeoffs made in arriving at the optimal choice.

SS.C.4.1B Students define and apply basic economic concepts such as scarcity, supply/demand, opportunity costs, production, resources, money and banking, economic growth, markets, costs, competition, and world economic systems.