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Presentation outline for the Credit Abuse Resistance Education Program (C.A.R.E.)

Introduction and overview

  • Introduction and overview
  • Purpose of program
  • Overview of Presentation

Choosing and using a credit card

  • Review of interactive program on use of Credit and discussion of related issues with illustrations
  • Types of cards/terms
  • Differences between debit, charge and credit cards
  • Terms - rates, fees, grace periods, balance computations, rewards
  • Uses and abuses of credit cards -- what to buy and what not to buy with your credit card
  • Understanding the cost of credit
  • Credit reports -- scoring and its meaning, uses of credit reports, monitoring your credit

Consequences of credit abuse

  • Review of video presentation and discussion of issues including illustrations
  • Personal/relational
  • Economic -- credit rating and its effect on credit availability and employment
  • Bankruptcy -- types of bankruptcy proceedings, relief available, impact on future credit

Points to take away

  • Have one card; keep the limit low
  • Limit use of the card -- distinguish wants v. needs; use cash or checks when possible; do not charge more than you can pay
  • Pay off the card each month If you keep balances, monitor them
  • Create a budget, including savings or investments