Lesson Plan: Using Payment Credit Cards
Overview
Responsible credit card use is an important skill in personal finance. This lesson leads with a basic comparison of three popular payment types (debit cards, credit cards and prepaid debit cards). It then introduces students to the credit card billing cycle and provides a strategy for owning a credit card. Students will also practice how to interpret a credit card billing statement.
Goals
• Help students understand the difference between popular card-based payment types
• Introduce students to responsible credit card use strategies
• Help students understand the credit card billing cycle
Objectives
• Compare different card-based payment types: debit cards, credit cards and prepaid debit cards
• Identify the credit card use strategy: “Pay it in full and on time”
• Identify the main components of credit card billing: billing cycle, balance, payment due date and grace period
• Read and interpret a monthly credit card statement
Assessments
Activities A and B can be used to gauge student understanding. An optional quiz has been provided with this lesson plan (the quiz is not factored into the lesson’s 45-minute runtime).
Lesson plan activity a activity b quiz