Gradpoint Unit 10 Consumer Choices

Each day, we are faced with purchasing decisions

Credit freezes block the creation of new credit accounts in your name.

consumers should evaluate the claims in an ad to see if it is believable

common ways that identity thieves steal personal information: trash, stealing, changing addresses, phishing, skimming

common techniques that sponsors use in ads: weasel words, endorsements, facts and figures, and card stacking

The people who create commercials care about you

An identity thief may use your personal information to open new credit card accounts, then charge items to those account

Advertisements have no influence over you

Identity theft happens when someone takes “personally identifying information” such as a Social Security number.

Ad claim: a detergent will leave clothes “virtually spotless.” This is using weasel words

Advertisers MUST tell the truth

studies show that we are less likely to pay attention to ads we’ve already seen, so they create new ones a lot

Criminals NEVER use the personal identity of another person to open a credit card account or buy items

You should Check your credit report and other financial accounts every two years

You should Avoid giving out your Social Security number.

a famous football player exclaimed, “I’m going to Disney World!” this is an example of facts and figures

In USA experts estimate that over nine million individuals are victims of identity theft each year.

Thrifting is often a way to save money

From the youngest child to the oldest individual, we are encouraged to buy goods and services

Caveat emptor is a Latin term that means "let the buyer beware."

“9 out of 10 dentists recommend” a particular toothpaste. This is a celebrity endorsement

Ancient Egyptians and Romans did not have advertising

You should look for sales whenever possible

You should Shred bills, statements, unused or canceled checks, and other mail

the buyer assumes NO risk that a product may fail to meet expectations or have defects.

advertising has an effect on all of us.

The people who make commercials want your money

it can be hard to see how small purchases impact our finances, both positively and negatively.

Card Stacking: Foods may claim to be healthy while being loaded with sugar and other unhealthy ingredients.

Costco and Sam's Club charge a yearly fee for access to their inventory, but they can offer considerable savings

Consumers are people who buy stuff

Call and speak with a representative of the credit card company or bank if you think someone is using your identity