Great chart in this WSJ article debating merits of debit vs. credit:
Questions to get the discussion going:
- How much overlap is there between the top credit card and debit card providers?
- Taking JP Morgan Chase as an example, assuming that the average annual interest rate on their credit cards is 18%, how much interest are they collecting on their unpaid balances every year?
- Which mode of payments are expected to increase between 2013-2018 (see chart in lower left)? Which mode of payments are expected to decrease in this time period? What headline could you put on that chart?
- Which credit card companies are growing fastest (bottom right chart)?
- What are your favorite methods of paying for stuff?
- Students can read the article linked here and debate the pros/cons of debit vs. credit.