Your task is to compare and contrast three different credit card applications based on the criteria listed on a worksheet with which you will be provided.

WHAT TYPE OF CREDIT CARDS SHOULD I USE?

Because you are to compare and contrast three different credit cards, it may be helpful to select cards that are similar in purpose. For example you may want to choose three of the major credit card (VISA, MASTERCARD, AMERICAN EXPRESS, DISCOVER). Another possibility would be to compare three department store credit cards ( for example, SEARS, JC PENNY, TARGET, etc.). Yet another possibility would be to choose three gas cards (EXXON, AMOCO, BP, etc.).

WHERE CAN I GET ACCESS TO THE CREDIT CARD INFORMATION THAT I WILL NEED?

Much of the credit card information that you are to find is required by law to be listed on the credit card application and the monthly statements that a holder receives. Many of these credit card companies list this information and even have an application on their company website. You may use a credit card that you or your parents already hold.

WHERE SHOULD I RECORD THE INFORMATION?

In the Media Center is a credit card worksheet on which to record your information. Click on the link below to access the worksheet. You must print this chart and send it back to the instructor or create your own chart to submit.

Credit Card Worksheet - 5_2a

PART 2

Take time to read the article, "STUDENTS AND CREDIT CARDS" .
http://www.consumeralert.org/pubs/research/Aug99StudentDebt.htm

Provide answers to the following questions. Be sure to use complete sentences, proper grammar, and correct spelling.

1. Of the three credit cards that you compared in Part 1, which, if any, would you recommend to a high school student? Provide specific reasons for your recommendation.

2. What are the important factors to consider when selecting a credit card?

3. Why is it important to shop for credit?

4. Do you think that high school students should have credit cards? Why or why not? Explain your answer.