1 Annual fee 2 Annual percentage rate APR 3 Credit line 4 Cash backrewards 5 Balance 6 Minimum payment It146s More Than a Piece of PlasticLESSN 14 STUDENT ACTIVIT SHEET 1 Time Required 2 ID: 314036
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Time Required: 10 minutesSTUDENTACTIVITy: ITRETHANPIECEPLASTICA credit card may look like a simple piece of plastic, but there’s a complex system behind how it works. Break down credit card mysteries by reviewing the terms at practicalmoneyskills. com/HS18 and de ning those terms below using your own words. 1. Annual fee 2. Annual percentage rate (APR) 3. Credit line 4. Cash back/rewards 5. Balance 6. Minimum payment It’s More Than a Piece of PlasticLESSN 14: STUDENT ACTIVIT SHEET 1 Time Required: 20 minutesSTUDENTACTIVITy: CoNSUMERREDITAWSThere are many di erent laws in place to protect consumers when it comes to credit. Explore some of the laws that provide consumers protection by reviewing the information on the Federal Trade Commission’s website at practicalmoneyskills.com/HS19. Then de ne each law using your own words and be prepared to share your ndings with the class.Consumer Credit LawsLESSN 14: STUDENT ACTIVIT SHEET 2 1. What is the purpose of the Fair Credit Reporting Act? 2. What is the purpose of the Equal Credit Opportunity Act? 3. What is the purpose of the Fair Credit Billing Act and the Electronic Fund Transfer Act? 4. What is the purpose of the Fair Debt Collection Practices Act?