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UNDERSTANDING CREDIT CARDS

Learn more about the benefits and risks of owning and using a credit card.

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Topics featured in this playlist: (click for more information)

2 mPOWER CreditCards module screens: Paying off credit cards balances and How to compare credit card offers

5 MINUTES
Credit cards offer great convenience but also come with great responsibility. Before choosing a credit card, or using one to make a purchase, it’s important to know how they work. Learn more about the benefits and risks of owning and using a credit card, including how to:

  • Differentiate between credit cards and debit cards
  • Define credit card offer terms: APR, fees, rewards, finance charges, late charges, credit limits
  • Compare credit card offers and select the card with the best terms
  • Identify laws and regulations designed to protect consumers
  • List different strategies for paying off credit card debt
  • Calculate how long it will take to pay off debt using different strategies

2 mPOWER Prepaid Cards modules screens showing transaction related information and activities

3 MINUTES
Purchases are a part of everyday life. While most purchases require a checking account or credit card, there is another form of payment that offers more flexibility – a prepaid card. Take this course to learn more about these reloadable cards how to:

  • Define a Prepaid Card and how it works
  • Differentiate between a Prepaid Card and a Credit Card
  • List the benefits and costs of using Prepaid Cards
  • Identify regulations and organizations meant to protect consumers

2 mPOWER Credit Scores & Reports module screenshots: Credit Score Components and What is a Credit Score

3 MINUTES
Is your credit score helping or hurting you? Credit scores can have a huge impact on your financial wellness. Understand how to read your credit report and receive important tips to keep your score healthy, including how to:

  • Define a credit score and its significance
  • Explain how credit scores are calculated
  • Identify the types of financial behavior and transactions that impact a credit score
  • List the factors that help you maintain a healthy credit score
  • Identify credit management strategies to keep credit scores high

Get started on this playlist

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