Course: Consumer Education Submitted By: Barbara Fiegel, CATE FACS, Tulsa Public Schools Project Name: Comparing Credit Cards Situation or Problem: Choosing a credit card that best meets ones needs can be a very confusing process. What are the factors to be considered when comparing credit card offers? Project Description and Purpose: Prior Knowledge: Understand the features of credit cards; know your rights when using your credit card; and how to file a complaint if you have a problem with your credit card. Reference: http://www.federalreserve.gov/pubs/shop/default.htm) Students will work as a cooperative team to compare the features and costs of three credit card applications using the comparison form that is attached. Each team will work with a family scenario on which to base their choice. The team will create a Smart Board presentation which includes a title page, the family scenario, important card features, and how the card chosen best meets the needs of their “family.” Performance Specifications: Tulsa Public Schools Family and Consumer Services Standard 7 Make responsible consumer decisions Standard 7.1 Develop knowledge of consumer issues. Standard 7.2 Demonstrate ability to manage personal resources. Tulsa Public Schools Language Arts Standards Standard II.1 Writing Process-The student will use the writing process to write coherently. Standard II.3 Grammar/Usage and mechanics –the student will demonstrate appropriate practices in writing by applying Standard English conventions of the revising and editing stages of writing Standard III Oral Language/Listening and Speaking: The student will demonstrate thinking skills in listening and speaking. Standard Speaking – The student will express ideas and opinions in group or individual III.2 situations. Standard Compose Visual Messages – The student will create a visual message that IV.3 effectively communicates an idea
Instructions and Parameters: Each team will be given a family scenario and three credit card applications. Day 1 Turn in group roles. Days 1 & 2 Compare the three card applications and decide which card best meets the needs of their family. Compose justifications. Day 3 Turn in outline of presentation including who will present each section of the presentation. 5f375fec-be13-4238-a2b3-5cc4b60adb37.doc 1
Days 3 & 4
Create Smart Board Presentation.
Day 5 Deliver Team Presentation. Turn in comparison worksheet and Smart Board presentation on a flash drive . Assessment: Please see attached rubric.
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Credit Card Comparisons
Student Task Sheet Group Member_____________________ Group Member_____________________ Group Member_____________________ Role/Task_________________________ Role/Task_________________________ Role/Task_________________________
Students will work in cooperative teams to: 1. Determine and carry out team roles. 2. Record the features of three credit card applications using the worksheet at http://www.federalreserve.gov/pubs/shop/checklist.htm. (form is also attached) 3. Determine which credit care would best meet the needs of their “family” scenario. 4. Create a thorough justification for card chosen. 5. Create and turn in outline of presentation including each person’s role in the presentation. 6. Create Smart Board presentation. Include four to five slides. 7. Turn in credit card comparison work sheet and Smart Board presentation on flash drive.
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Credit Card Comparison Rubric
Group Member_____________________ Group Member_____________________ Group Member_____________________ Role/Task_________________________ Role/Task_________________________ Role/Task_________________________ Hour_____ Date__________
Team Stayed on Task Throughout the Project 2 4 6
8
10
Team Roles Well Defined and Executed - Worked Well Together as a Team 2 4 6 8 10
Credit Card Comparison Worksheet Complete 6 12 18
24
30
Outline of Smart Board Presentation 1 2
3
4
5
SB Presentation Four or Five Slides 1 2
3
4
5
Introductory Slide with Team Names and Roles 1 2 3
4
5
SB Presentation of Family Scenario 1 2
3
4
5
SB – Clear and Complete Discussion of How Card Chosen Best Meets Needs of Family 6 12 18 24 30
Total Earned
/100
% _______
Letter Grade_______ 5f375fec-be13-4238-a2b3-5cc4b60adb37.doc 4
Checklist for Comparing Credit Cards
Feature What are the APRs? For purchases? For cash advances? For balance transfers? If you pay late? What type of interest does the card have? Fixed or variable? Tiered? How long is the grace period? If you carry over a balance? If you pay off the balance each month? For cash advances? How is the finance charge calculated? One cycle or two? Including or excluding new purchases? Average or adjusted? Minimum finance charge? What are the fees? Annual Late-payment Over-the-credit-limit Set-up What are the cash advance features? Transaction fees Limits How much is the credit limit? What kind of card is it? Secured? Regular? Premium? Does the card offer other features? Rebates Frequent flier miles Insurance Other Card A ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ Card B ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ Card C ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________
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