Lesson 8: Young People and Credit

5.3 Young People
and Credit Cards

LEARNING OBJECTIVES

Students will be able to:
● Enumerate the differences between debit and credit cards
● Identify at least 3 ways a young adult can gain access to a

credit card, even before they are 21

● Explain why a secured credit card is an excellent way to

build credit

● Read a credit card monthly statement

RESOURCE 2: CREDIT VS. DEBIT CARDS

Because they’re both rectangular plastic cards used
for purchases, people sometimes confuse credit cards
and debit cards. In reality, they function very
differently. On the next slide, watch the EdPuzzle
video Credit vs. Debit Cards by Bellco Credit Union to
learn more and answer the questions throughout.

RESOURCE 3: A QUICK INTRODUCTION TO CREDIT

You’ll likely have a debit card before you get a
credit card, particularly because there are age
and/or income restrictions on credit card access.
On the next slide, scroll to the final section of this
infographic, subtitled “How Can Young People
Get Credit?” and answer the questions.

RESOURCE 4: WHAT IS A SECURED CREDIT CARD?

The infographic stated that secured credit cards
are a good option for young adults without a
credit history. But how do these cards work? On
the next slide, watch the video by WalletHub
What Is A Secured Credit Card to learn how.

RESOURCE 5: HOW TO READ A CREDIT

CARD STATEMENT

If you decide to open your own credit card or tag on
to someone else’s as an authorized user, it’s important
to learn how to read the statement and keep on top
of your monthly bills. On the next slide, watch the
video How to Read Your Credit Card Statement from
Take Charge America, and answer the questions.

RESOURCE 6: THE FINE PRINT - CREDIT

CARD STATEMENT

It’s time to put your credit card statement
reading skills to the test! On the next slide,
follow the directions on the worksheet and
complete the activity.

RESOURCE 7: EXIT TICKET

Take the three question Exit Ticket to
assess what you have learned about
young people and credit cards!