You are sitting around the lunch table one day with two friends, Joe and Keisha. The topic turns to credit cards since all of you have been thinking about getting one. Joe and Keisha ask your advice now that you are taking business math and neither of them has ever had a credit card.
Keisha has a steady part-time job while she attends college full-time. Her expenses are modest. She has her cell phone, bus transportation to school and work, and personal spending. She has a savings account and a checking account. Her primary reason for getting a credit card is for emergencies and to help build her credit rating. She hopes to buy a car in the near future and knows it is important to have a credit history. Keisha expects she would usually pay off her credit card each month.
Joe is a few years older. He works full time and is working on the last course he needs to complete his degree. Joe has more expenses since he lives on his own. He pays rent, utilities, etc, and also has car expenses. He has had some periods where money was tight and expects that he will sometimes carry a balance over if he uses a credit card. He wants a credit card to cover months when he has extra expenses and to help build his credit rating.
You have all received different credit car offers in the mail. The three of you list the various terms and start to make a chart of these. Keisha and Joe don’t really understand the differences so need you to help them.
1. Download the credit card comparison worksheet from this site. Save the document with the filename lastnamefirstinitial__worksheet_P2. For example, Maria Gonzalez would save the file as gonzalezm_worksheet_P2. Remember the file must be saved as a WORD or Rich Text file. When you open the worksheet be sure to put a heading at the top with your name and the project title.
2. Complete the remaining entries under Solution Plan in the worksheet. Be sure to use complete sentences in items 1 and 3 through 7.
3. Since credit card offers change frequently the information given in the worksheet could be out of date. Use a search engine like Google (http://www. google.com) to find current student credit card offers. Describe the terms of at least 3 student credit cards offers that you found doing your search. Be sure you mention the sites in your responses and to give the website addresses and dates you accessed the sites in your list of references.
4. Visit the Federal Trade Commission website at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre32.shtm. What information did you find on the website that you found especially interesting or helpful. Be sure to write in complete sentences. Use your own words; do not just cut and paste.
5. Find at least 2 other websites besides the FTC site that discuss the advantages and disadvantages of credit cards. Describe what information you found from them. Write in complete sentences.Use your own words; do not just cut and paste. Be sure you give the full website addresses and the dates you accessed them in your list of references.
6. You should be able to add the information to your worksheet file but if you created a new file to answer the questions be sure to name the file with with the filename your lastnamefirstinitial__P2. For example, if Jenny Wu is doing this project she would save the file as wuj_P2. Remember the file must be a WORD or Rich Text file. Be sure you put a heading at the top with your name and the project title
7. Include a Reference List giving all sources you consulted for this project. If you are not sure how to properly cite your references see http://www.bergen.edu/pages/2306.asp. (Note: The BCC English Department uses MLA format. You may use MLA, APA, or Chicago style but you must be consistent in your usage.)
8. Attach your file(s) to the drop box for either Project_2 by the deadline, by clicking on the Assignment icon in the Action Menu or under Course tools.
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