Credit Cards
Do you believe having more than one credit card is much easier for people or difficult to keep up with?
A variety of people find it easy to just have one.
What do you think is the reason people pay late fees?
Many people tend to fall back on their due dates and the more you wait to pay something the more they charge you.
What do you think is the main reason many people go on budgets?
They want to keep their spending in check. Budgeting can help you set long-term financial goals and prevent you from overspending.
What is the highest paying 12-month CD?
With Premier Members Credit Union it would be 5.25 APY.
What do you think people have to do to earn rewards ?
By making specific purchases and having a good credit history.
What do you think is the best option when it comes to saving money ?
Creating a savings account.
Is it True or False that late fees affect your credit score?
True
Do you believe these budgets have helped people?
If people are taking these seriously then the outcome of it should be well and in good shape.
What does a CD do and how does it benefit people?
When you leave your money placed in your account for a certain amount of time. You can also get your money back if the bank fails.
Do people take advantage when they get told they have received rewards?
Many people do and others don’t.
Which type of credit card would you recommend to a person getting their first credit card?
The Discover it Secured Card.
What do you think happens when a person gets a late fee ?
You will have to pay a certain amount of money.
What are the four types of budgets?
Activity-Based 2) Value proposition 3) Incremental 4) Zero-based
Does this method always work?
It works for those that actually want to their savings goods and secured.
Do you believe people still have to pay money with these rewards?
I believe you do one way or another.
How do you believe people start receiving credit fees?
When they're falling behind with their payments.
How can you fix a late patent on your credit history?
You can file a dispute with the credit bureau.
What should people consider/include in their budgets?
housing, insurance,health care, and a emergency fund
Name some pros and cons of CDs.
Some cons would be to have a tax burden, reinvestment risk, and low returns. Some advantages are that they offer you a higher interest rate rather than a savings account.
What type of rewards do you think people get?
You get points, cash back, or miles.
What do you consider a good credit history?
Getting your payments in on time.
How much time do you think a company gives a customer to pay off their fee?
30 days
How would you budget as a beginner?
Set yourself some goals and make a list of your values. You must also determine your income and expenses.
Do you pay taxes on CDs?
Yes.
Do people get scammed by these?
Yes in most cases.