What she thinks about credit card

Quiz

Watch the video English conversation about a college girl says about credit card debt. Remember the details of the video talk. If necessary play it several times to answer the questions below.

What does APR stand for?
1. Annual Percentage Rate
2. American People's Republic
3. American Public Relation
What free gift did she get when signing up for a credit card?
1. A free car
2. A free T-Shirt
3. A free apartment
How did the girl pay for the ticket when she and her boyfriend went to a movie theater?
1. She paid it in cash.
2. She paid it in Euros.
3. She paid it by using her credit card.
In the video, what did she do with her credit card?
1. She tore it into pieces.
2. She cut it with scissors
3. She folded it in half.
What does she say about the plastic (meaning credit card) after being trapped in debt?
1. The plastic is very good.
2. The plastic pollutes the environment.
3. The plastic isn't so fantastic.
What did her parents say to her?
1. They had warned her about credit cards.
2. They supported her for paying everything with credit cards.
3. They didn't say anything to her.
How much is her debt?
1. It is twenty thousand dollars.
2. It is twenty dollars.
3. It's two thousand dollars

How to pay off your credit card debt
After watching the above video and feeling that you face the same problem, read the following tips to help you get out of your debt. Credit card is a plastic money that you can use for paying almost everything. It is so easy to get one but it will be your big enemy when you use it uncontrollably. When you are being trapped by credit card debt, you might blame the credit card company for charging too high interest rate. As a matter of fact, you have to realize that you are the one who created the debt. These are what you need to do:
1. Stop creating more debts. Don't pay your debt by using another credit card. It means you cover up a hole by digging another new hole. This will not solve your financial crisis.
2. Pay more than the minimum. If your minimum payment is 200 dollars, pay more than the amount. The higher you pay, the faster you will be getting out of your credit card debt. You might say that your salary is not enough for paying the minimum because you have other important spending such as food, electricity, gas, and school tuition of your children. If this is your situation, then write down your spending starting from your basic needs. You need to have a monthly budget. If you like eating out for dinner with your friends and your loved ones, skip it. Eating dinner at home with your family will save you more money that you need to pay back your loan.
3. Renegotiate terms with your creditors. Perhaps, you are reluctant to inform your creditors about your situation. But when you have worked hard and you still find that the money you earn every month is not enough to pay for the minimum, then it is the right time to talk to your creditors. You have to tell them that you need flexible terms that will help you pay your debt. Creditors do not want you to declare bankruptcy because they will suffer significant loss if you do that. When you renegotiate your debt with creditors, request a lower interest rate.

4. Discipline your self by paying regularly. Getting out of debt can be done in very short period of time if you pay regularly. Don't be distracted with other materialistic temptations. I believe that if you pay more than the minimum, and control your spending, you will be able to get yourself out of credit card debt.