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    Credit Card Comparison: 0% For 6 Mo, 16.24% To 27.24% After

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    Elise Smoll (Elise)

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    Credit Card Comparison: 0% For 6 Mo, 16.24% To 27.24% After

    Uploaded by

    Elise Smoll (Elise)
    100 views3 pages

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    100 views3 pages

    Credit Card Comparison: 0% For 6 Mo, 16.24% To 27.24% After

    Uploaded by

    Elise Smoll (Elise)

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    CREDIT CARD COMPARISON

    Evaluate different credit card applications comparing finance charges, interest, late fees, closing costs, annual fees, etc. Credit Card information:
    https://www.nerdwallet.com/. Store Cards and Pay Day Lenders search individually on internet.

    Type of Credit & APR (%) Annual Fee Other Fees Balance Finance Grace Other
    Company Transfer Charge Period
    Example Visa Signature, 0% for 9 mo, None Cash adv. 3% No fees 0.50 20 days Earn double miles on
    Capital One – No 13.9% after Late fees $29- purchases, Fly on any
    Hassle 35 airline, No blackout
    dates, Seat restriction
    Credit Card
    0% for 15 None ???
    Chase mo, 18.74% $5 ??? ???
    - 27.49%. None
    Freedom
    Unlimited® after

    Credit Card
    Wells Fargo 0% for 15 none
    Active mo, 19.24%, $5
    Cash® Card 24.24% or none ??? ??? ???
    29.24%. after

    Credit Card Cash adv.


    0% for 6 29.24%
    none Late fees ??? ???
    mo,
    16.24% up to $41 3% to 5%
    ???
    Discover it®to
    Balance 27.24%
    Transfer after
    Store Card
    Store Card

    Payday
    Lender

    1. Which credit option appeals to you most? Why?

    Chase Freedom Unlimited®. because it seem like less money spent

    2. Which piece of information (annual fees, APR, other) would you pay more attention to? Why?

    APR. ???

    3. What techniques do the credit companies use to market their credit?

    Introductory low APR rates


    4. Find three pieces of information that is in the “fine print” that you, the consumer, would need to know.

    a.
    The standard APR.
    b. The balance transfer APR and balance transfer fees.
    The cash advance APR and cash advance fees.
    c.

    5. Name three things that consumers need to be aware of when applying for a credit card. a. b. c. 6. What did you learn from this exercise?
    minimum repayment.
    a.

    b.
    annual fee.

    c. charges.

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