0% APR!

My algebra 2 students today marketed their credit cards to the Freshmen during lunch. We set up tables outside of the cafeteria, and my students had copies of fliers with their advertisement on front and their disclosure on back (which I photocopied from a real solicitation, used white out on the card names, fees, and APRs, and then filled in with the information they chose). As the freshmen came by, my little salesmen and saleswomen began shouting out the virtues of their card, while slandering those of their competitors. I heard things like "No, don't go over there! They'll just raise the rate on you later. Come to us - we have 0% interest and no minimum monthly payments!"

Some Freshmen made the mistake of signing up for the first offer they saw, and then wanted to change later. I told them they couldn't - once their name is signed on a contract, they can't just say "oops, just kidding!". One girl was really mad ("There was a back side? I didn't even know! That's not fair!"), and I told her she should go talk to the company and try to work out a deal. I listened, impressed, as they worked it out: she was given the choice to switch to the company's other plan, or to keep her original card and then cancel it without charge after a month.

Overall, the Freshmen took the whole exercise very seriously. Many were concerned about getting the best deal, and came to me asking which they should pick. I told them that I didn't know - they had to ask the companies if they had any questions - and they did! My favorite sales pitch: "Hey - you were at my quince! Come sign up with us!".

If you're interested, here are some of the names of the cards my students offered:

Mexican Express
Paiza Express
The Green Card
Genie
Reality
Viso (Platinum)
Viso (Gold)
Smart Latino
Red Foxx
High Five