Middle School
Worksheets
Credit - Beware
National Credit Awareness Day
Reading Comprehension for June 15
We are surrounded by ads enticing us to buy the newest computer, car, CDs, and clothing. There is a gadget for every possible need. There are credit card companies who offer special applications to graduates to help them get their first credit card and who encourage people to use their cards for purchases.
Credit cards can be very helpful. They are accepted in almost all stores. A credit card is usually used to arrange for a hotel reservation, to rent a car, or to buy something online. Credit can be used to split up a large payment into many small payments paid over time. One might use a credit card to break up a large unexpected bill, like a car repair, into smaller monthly payments. A good credit rating can help someone get approved for a car loan.
So why BEWARE?
Credit card companies do not lend you money out of the goodness of their hearts. They lend the money because every month they will earn interest on the amount owed. If the bill is paid late, they will charge a late fee, often $25 to $30 for just that one month.
