B
Look at Abe’s credit card application again. Read the statements.
Circle
True
or
False
. Correct the false statements.
1.
The last name of Abe’s mother before she got married was González.
True
False
2.
Abe’s only income is from his job at Project Inc.
True
False
3.
The annual percentage rate on this credit card will never change.
True
False
4.
Abe will have to pay a fee of $24 to keep his card each year.
True
False
5.
If Abe has a balance of $500 on his credit card, and his payment is late,
the bank will charge him a $27 fee.
True
False
PRACTICAL SPEAKING
A
Abe is asking a bank clerk questions about the credit card application.
Listen and read the conversation.
Abe:
Could you tell me what “default APR” means?
Clerk:
Sure. The “default APR” is the usual “annual percentage rate” for this type of credit card.
Abe:
That’s 31.74%. It’s very high.
Clerk:
When you start a new account, the APR is lower. But if your monthly payment is late, the
bank will raise your monthly APR to the higher “default” rate.
B
PAIRS
Practice the conversation.
C
PAIRS
Look at the credit card application again. Role play a similar conversation in
which Abe asks the clerk other questions about the application.
PRACTICAL LISTENING
Listen to the public service announcement from the Federal Trade Commission.
Circle the correct answers.
1.
How can criminals steal your money without actually having your card?
a.
by finding your card number on a discarded receipt
b.
by adding amounts to blank spaces on a receipt
c.
by getting your account information by offering a fake “trip” via a mailing
d.
all of the above
2.
When should you report a lost or stolen credit card?
a.
24 hours after you learn that it was lost or stolen
b.
immediately
c.
after you’ve found it
d.
after you’ve reported the loss or theft to the police
3.
What is one way to prevent credit card fraud?
a.
always compare your receipts to your bills
b.
lend your card to others
c.
join bargain travel clubs that you learn about from mailings
d.
give your account number to people who call you
PAIRS
Compare your own experiences with credit cards. What are the positive and negative
aspects of having credit cards?
WHAT DO YOU THINK?
UNIT 7
99
