Consumer Credit
Question 1:
Critique the use of bank debit cards. Bank debit cards are becoming a popular alternative to using checks or credit cards. Investigate the advantages and disadvantages of using a bank debit card and answer the questions below.
Here are some ideas to consider in your investigation:
- Convenience to account holders
- Float time
- Record of transactions
- Financial privacy/safety
- Card loss/theft liability
- Checkbook balancing
- Vendor acceptance
- Usage fees by banks
- Usage fees by vendors
- Ease of administration by banks
- Ease of administration by vendors
Where did you get your information?
- Was it the most reliable resource? Why or why not?
- How could you have improved the reliability of your resource?
- How has technology, such as online banking, affected these aspects? Discuss any pros and cons about the effects of technology on the aspects of reliability.
Question 2: An installment loan is a loan that has regular payments due by the borrower. Search the Internet to find an article or application of a type of installment loan that you find interesting, that you encounter on a daily basis, or that you find in your profession. Present this article or application to the class and explain why you chose the example. Find the amount financed, the installment price, and the finance charge of the installment loan. Include the URL for the site you used. Do not copy the text in the site verbatim. You should summarize your findings.