Credit Cards – Understanding & Responsibilities

In this lesson students develop skills to compare and evaluate the terms and conditions of various credit cards, the differences between credit cards, and the legal and financial responsibilities involved.

Teaching Objectives:

  • List three types of credit card accounts, and explain the uses and payment methods of each
  • Understand how to shop for a credit card
  • Read and interpret a credit card statement
  • Understand how to deal with billing errors
  • Understand the long-term results of overextending your credit uses
  • Determine safe personal debt loads


Suggested Grade Level

7th Grade – 12th Grade

Lesson Excerpt:

What is APR? What is a grace period? What are transaction fees?

These and other questions will be answered in this lesson as students learn about credit cards, and the different types of cards available and features of each, such as bank cards, store cards, and travel and entertainment cards.

As students start to shop for their first (or next) credit card, this lesson will make them aware of various costs and features. Included in this section is a discussion of the methods for calculating finance charges.

Various federal laws protect our rights as we apply for and use credit cards, such as procedures for disputes and protection from card theft and fraud. In this lesson, students will also be given an opportunity to analyze the information contained on a credit card statement.

To assist students with making wise decisions related to credit cards, several shopping tips are offered. Finally, once again, students are reminded of guidelines related to determining safe debt loads.


Teacher’s Guide

Teacher’s Guide


Presentation Slides

Presentation PDF

Presentation PowerPoint


Student Activities:

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