Credit Cards are a risky business these days, especially for students and those holding multiple cards. Interest rates on credit card balances have always been high relative to other rates, for several reasons. Despite this, there is still a demand for the "plastic money" that many people see as convenient and ideal with the increasingly technological world economy. This lesson explores many issues surrounding credit cards- from what to look for when selecting a card to what the government is doing to aid consumers.
Credit cards are convenient, user friendly, and at times dangerous. In this lesson students learn the joys and dangers of using credit as they help Credit, the main character in this activity, solve her credit problems.
Students will compare credit cards by looking at the amount of interest they will incur when paying off the balance on their purchases. Students will discuss times when they will need to use a credit card, rewards programs, and disadvantages of the use of plastic.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
This publication contains complete instructions for teaching the lessons in Capstone. When combined with a textbook, Capstone provides activities for a complete high school economics course. 45 exemplary lessons help students learn to apply economic reasoning to a wide range of real-world subjects.
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