In one of our recent life skills classes we discussed credit cards.
Credit cards can have benefits if used successfully without getting into financial difficulty, but…
it requires good management and good understanding of how credit cards work.
We were able to discuss credit card terminology,
the pros and cons of credit cards,
how minimum payments are calculated,
how paying only the minimum payment will result in maximum cost,
we also covered how credit scores are calculated and credit score ratings.
It was interesting to see how much prior knowledge the students had – or in most cases – did not have regarding credit scores and credit cards.
–Kristin, Program Director