SS.8.FL.4.2

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Identify a credit card purchase as a loan from the financial institution that issued the card. Explain that credit card interest rates tend to be higher than rates for other loans. In addition, financial institutions may charge significant fees related to a credit card and its use.

Remarks

Examine a credit card statement and identify the interest rate and fees charged.
General Information
Subject Area: Social Studies
Grade: 8
Strand: Financial Literacy
Standard: Identify and analyze the benefits, risks, associated fees and laws that consumers should consider when choosing to buy on credit.
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
2104060: M/J Introduction to Personal Financial Literacy (Specifically in versions: 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
SS.8.FL.4.AP.2: Identify a credit card purchase as a loan from the financial institution that issued the card, as expressed on a credit card statement.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this benchmark.

Lesson Plans

Analyzing a Credit Card Statement:

Students will analyze a credit card statement to identify charges and fees associated with using a credit card, in this lesson plan.

Type: Lesson Plan

Exploring Credit Cards:

Students will conduct research to explore and compare credit cards offered by different financial institutions, in this lesson plan.

Type: Lesson Plan

Types of Loans:

Students will conduct and synthesize research on common types of loans offered by financial institutions, in this lesson plan.

Type: Lesson Plan

Analyzing a Credit Card Statement, Part 2:

Students will analyze a credit card statement, focusing on the calculations, to determine how the interest charged, new balance, available credit, and minimum monthly payment are determined.

Type: Lesson Plan

In Whose Best Interest is Interest?:

Students will use simple interest to explore real world examples of interest rates. Students will explore loan rates, CD rates and compare benefits of different rates versus different terms of loans.

Type: Lesson Plan

Student Resources

Vetted resources students can use to learn the concepts and skills in this benchmark.

Parent Resources

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