Tuesday, November 2nd - Election Day

1. Read the Sarah Peters Case Study (p110-113 in econ book) if you didn't already (NOT 1st period, they already had the reading quiz)
2. What Are the 8 Things You Should Know About Credit Cards? Go to this link: 8Things
Here is what you need to know:  (copy and paste into a word doc)

Eight Things You NEED to KNow About Credit CArds!

1. TRUE or FALSE - Even if you make your credit card payments on time, the credit card bank can raise your interest rate automatically if you're late on payments elsewhere -- such as on another credit card or on a phone, car, or house payment -- or simply because the bank feels you have taken on too much debt.This is known as the "____________________________"clause.
2. TRUE or FALSE - Most Americans don't know what their credit score is, nor how it's computed and with whom it's shared.
3. TRUE or FALSE - There is no limit on the amount a credit card company can charge a cardholder for being even an hour late with a payment.  Explain Smiley vs. Citibank (1996) -
4. Why is it important to read the fine print on a credit card agreement?
5. TRUE or FALSE - Most Americans are inattentive about their credit card accounts.
6.TRUE or FALSE - There is no federal limit on the interest rate a credit card company can charge.
7. Significant credit card debt can put you at higher risk for declaring bankruptcy. But, not from spending sprees - instead what could trigger it?
8. TRUE or FALSE - There is no help available for those in a credit card crisis.