Choosing a Credit Card

Class Presentations

Directions

In groups, you will explore different credit card options (NOT the ones we’ve already reviewed in class) and pick ONE that you would recommend for first time users. Add your slide to THIS presentation (Use this as a resource).

• Considerations fasa
1. Does the bank(s) you chose last unit offer a credit card?
2. There are LOTS of sites to help you compare credit cards online (creditcards.com, nerdwallet.com, etc.)
3. Reflect back on the articles that talked about the MOST important things for first-time card users to consider
• Requirements
• Name of card and pictures of card (tell your teacher which card you chose- first come, first serve)
• At least THREE reasons is it a good choice for first-time card users (i.e. APR, benefits, fees & penalties, etc.)

ABC Credit Card

*Example*

• Introductory 10% APR lasts for 12 months
• Gives students time to learn how to use credit without too high of an interest rate
• 1% cashback on gas purchases
• Everyday purchase students will likely make at first
• Forgiveness on up to 1 late payment per year
• Again, gives students a chance to get used to using a credit card

Journey® Student Rewards from Capital One®

Delanie, Cristina, and Sashenka

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• $0 Annual Fee
• No foreign transaction fee
• Pay for online purchases with a virtual card number
• Your official card number can be kept to yourself
• 1% Cash back on any net purchases.
• If you pay on time you earn an extra 0.25% for a total of 1.25%

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Discover ItⓇ Student Cash Back

Deisy, Alyssa, and Dani

Good Grade Reward

• Get $20 statement credit each school year your GPA is 3.0 or higher for up to next five years.

5% Cash Back Rewards

• Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more, up to the quarterly maximum, each time you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Dollar-for-Dollar

• Get an unlimited dollar-for-dollar match of all the cash back you've earned at the end of your first year

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Discover it® Secured

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Scotty, Martir, Thalles

• %10.99 APR for 6 months
• %24.49 regular APR

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• %2 cash back at gas stations

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• $0 annual fee

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• No foreign transaction fee
• Your cashback never expires
• No late fee on your first payment

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Costco

(Citi Visa Credit Card)

Daniel, Nate, Bart, Mike

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Rewards:

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• 4% Cashback on eligible gas worldwide

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• 3% Cashback on Restaurant and Eligible travel purchases worldwide

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• 2% Cashback on all other purchases from Costco and Costco.com

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• 1% Cashback on all other purchases

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• Purchase Rate: 16.74% variable APR
• 23.49% APR for Cash Advances
• No annual fee with your paid membership
• Penalty Fees: Up to $39 for late and returned payments

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American Express Cash Magnet Card

By: Manuela Maria and Niki

• 0% into APR on purchases and balance transfers for 15 months.
• Helps you save money
• 1.5% cash back on everyday purchases.
• Helps you get money back on anything you buy.
• Fraud protection
• It will protect your money and keep your personal information secure

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State Farm

Credit Cards

By: Alex, Ruben, Nathan, Pawel

• Account Fraud Monitoring
• If you say “like a good neighbor, statefarm is there” an agent will appear and help you
• No annual Fee
• 16.74 - 24.74% APR (based on creditworthiness)
• Payments over the phone
• Automatic payments

Deserve® Edu Mastercard for Students

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By: Josh and Angelo

• 1% cash back on all purchases
• Cell Phone protection
• Extended warranty
• $0 annual fee
• Mastercard platinum benefits
• 20.24% variable APR (Prime + 15.49%)
• Complimentary Amazon Student Prime (Lifetime Value worth $59)

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Citi® Secured Mastercard®

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By:Naomi, Maks, Manny

• This card's no annual fee
• higher credit line in as soon as 5 months if you make your first 5 monthly payments on time
• no foreign transaction fee
• The standard variable APR for Citi Flex Plan is 23.99%
• A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200).
• With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.
• Manage your account 24/7 online, by phone, or in our mobile app.
• Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online.

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American Express Centurion “Black” Card

Mrs. L

• NOT Suitable for those with with average income. Requires extreme wealth
• $10,000 enrollment fee
• $5,000 annual fee
• Annual Purchases must EXCEED $450,000/year
• Free Companion Flights on International Flights
• Personal Shoppers at Gucci and other exclusive retailers