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Job Placement Tests

• The Self Directed Search

• http://www.whatcareerisrightforme.com/career-aptitude-test.php

• http://jobs.aol.com/articles/2010/02/22/personality-quiz/

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Credit/Debit Cards

Consumer Math 2012-2013

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Overview

• Differences between credit and debit cards• Best Uses• Fees with both• Best Credit Cards– Credit– What do you want?

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Differences (Credit vs. Debit)

Credit Cards• Born 1950’s• Borrowed Money• More likely to overspend• Companies want you to! APR• Federal protection from theft• Rewards• Build Credit

Debit Cards• Born 1970’s• Linked to bank account• Less likely to overspend• Overdraft Protection (APR)• Vendors get your money

immediately• Does not build credit

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Debit Card Protection• With a stolen DEBIT card (or debit card number

and PIN), you are protected as follows (source: Federal Reserve and Federal Trade Commission):– Loss is limited to $50 if reported within 2 business

days– Loss is limited to $500 if reported between 2 business

days and 60 days after statement is mailed out– Loss is unlimited if you fail to report theft after 60 days

statement is mailed to you plus maximum overdraft line of credit, if any.

Best Uses (Credit vs. Debit)• Credit Card

– Big Ticket $$ Item– Rent Hotel/Car (Blocking Debit Card)– Keep $$ in a high % savings account and pay on time

• Debit Cards– If you struggle to pay bills on time– Never opt in for overdraft protection– Use PIN at ATMs (cover hand/buttons)– Don’t share PIN

• Cash– Smaller Purchases (12-18% less than plastic)

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Fees (Credit vs. Debit)

• Debit– POS: Point of Sales Fee ($1)– Overdraft Fee

• Credit– Annual Fee (Better Rewards/Protection)– Interest (if you don’t pay on time)– Vendor fee (3%)

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Best Credit Cards

• Requirements– Credit Score– Annual Fee

• What do you want?– Low interest– Cash Back– Travel– Rewards– Security

• http://www.creditcards.com/

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Disputing a Charge

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• Retrace Your Steps• Call The Credit Card Company ASAP• Put In Writing• Keep On Paying• Follow-up

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Cool Watches

• HYT H1 Hydro Watchhttp://www.youtube.com/watch?v=5642GUcy3O0• Urwek UR-210http://www.youtube.com/watch?v=jszvv8Mtqtc• Urwek UR-110http://www.youtube.com/watch?v=nQvKDsRIfp0• Harry Winston Opus Elevenhttp://www.youtube.com/watch?v=KMA2CPUV_WA

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Credit Card Payments

• How Long to Pay Off with Minimum Paymenthttp://www.federalreserve.gov/creditcardcalculator/

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Protection From Fraud

• Fraud: obtain goods without paying, or to obtain unauthorized funds from an account– Name of card holder– Account Number– Expiration Date– Verification/CVV code

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Penalties• The penalties for felony credit card theft or fraud are:– < $1,500 in theft = $500 - $4,000 Fine (Misdemeanors)– 6 months – 2 years prison (for theft of 5 stolen cards or a

value up to $50)– 2 - 10 years for up to 10 cards or a $10,000 value– Up to 20 years for up to 50 cards or a $200,000 value– 5 to 99 years for 50 cards or a $200,000 value. – Each violation carries fines of up to $10,000. Any sentence

may also include restitution.

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Credit Card Fraudhttp://www.youtube.com/watch?v=AuwayMjvuT0

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Prevention Tips

1. Never let card out of sight – watch handlers!2. Never click email links prompting you to check

online/offline accounts3. Payment websites should be https not http4. Check monthly statements immediately and carefully5. If you miss credit card bill, call company ASAP6. Always shred old bills and cards7. Notify CC company when you move8. Don’t fall for update information scam9. Never transmit CC information over e-mail