Credit card

Kelsey Speckman

Why credit card company's go for teenager and what methods do they use to atraked young people

They ami for teenagers because they are not responsible enough to handle money and they still have to pay it off they tell the young people that there is no interest low Apr

The average debt of young people and how they rack up debt

16120 is the average debt they rack up debt by going to the mall going out to eat

What teens need to look for in a credit card.

What teens need to look for in there credit cad company is

A fixed interest

How Credit cards work

You apply for a card you can take out as much as you are alowed then you pay it off every month or you rack up debt

The dangers and advantages of using a credit card

The danger is getting fought in debt and not being able to pay it off

The advantages are being able to afford things u need

What are the what is important terminology with credit cards

Annual fee -- A bank charge imposed each year for use of a credit card. It may also be called a membership or participation fee. It can range from $15 to $300, and usually gets billed directly to the customer's monthly statement. Many credit cards come without an annual fee.

2. Annual percentage rate (APR) -- A yearly interest rate that includes fees and costs paid to acquire the loan. Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the >periodic rate and multiplying it by the number of billing periods in a year.

3. Average daily balance -- This is the method by which most credit cards calculate your payment due. An average daily balance is determined by adding each day's balance and then dividing that total by the number of days in a billing cycle. The average daily balance is then multiplied by a card's monthly periodic rate, which is calculated by dividing the annual percentage rate by 12. A card with an annual rate of 18 percent would have a monthly periodic rate of 1.5 percent. If that card had a $500 average daily balance it would yield a monthly finance charge of $7.50.

4. Balance transfer -- The process of moving an unpaid credit card debt from one issuer to another. Card issuers sometimes offer teaser rates to encourage balance transfers coming in and balance-transfer fees to discourage them from going out. Make sure if you're making a balance transfer you know exactly when the introductory rate expires.