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4/30/2016

Topic:CreditCardScenarioDiscussion

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CreditCardScenarioDiscussion

Apr20at12:22pm
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Brad

38

Onepersonineachgroupshouldposthere.Besuretospecifywhichscenarioyouhave,listwhoisinyourgroup,anddescribethebestcreditcardoptionstodealwiththescenario.Includelinksto
differentcards.

Searchentriesorauthor

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(https://scienceleadership.instructure.com/courses/1450/users/1810)
Ella

(https://scienceleadership.instructure.com/courses/1450/users/1810)
Apr20,2016

Ella,Shane,Brandon,Vaughn
Wehavescenarionumber3.
Wehave$5,500inoursavingsaccountandhavetopay$5,000forourbasement.Wearegoingtopay$2,500fromoursavingsandcharge$2,500onourcreditcard.Thisleavesuswith$3,000in
savingsand$2,500topayoff.
CreditCardOptions:
ChaseSlate
https://creditcards.chase.com/a1/slatecreditcard/oa?CELL=6H8X&AFFID=SWlnSnn6x54II.e8jFfUi6K5nUObeBj0Q&pvid=ac51376abed23421&jp_cmp=cc/413862/aff/1531340/na
(https://creditcards.chase.com/a1/slatecreditcard/oa?CELL=6H8X&AFFID=SWlnSnn6x54II.e8jFfUi6K5nUObeBj0Q&pvid=ac51376abed23421&jp_cmp=cc/413862/aff/1531340/na)

Thiscardwouldbeagreataoptionifwecanpaythisoffwithin15months.Thereis0%APRwithinthefirst15monthsofgettingthecardaswellasnoannualfee.
BlueCashPreferredAmericanExpress
https://www.americanexpress.com/us/creditcards/bluecashpreferred/26129?extlink=afusccsgBCPLM&PID=15123543583842381
d4412110afca5f43&BUID=CCG&PSKU=BCP&CRTV=BCPLM&CID=2929746 (https://www.americanexpress.com/us/creditcards/bluecashpreferred/26129?extlink=afusccsg
BCPLM&PID=15123543583842381d4412110afca5f43&BUID=CCG&PSKU=BCP&CRTV=BCPLM&CID=2929746)

Thisisagoodcardtouseformakingabigpurchasebecauseweget$150backon$1000wespendwithinthefirstthreemonthswhichwearedoing.Also,ifwecanpaythisoffwithinayear,we
willonlybepayingthe$75annualfeeasthereisnoAPRwithinthefirst12months.
ChaseFreedomUnlimited
https://creditcards.chase.com/a1/freedomunlimited?CELL=6H8X&AFFID=SWlnSnn6x54U.sot_EZUyhhqL4dnZfLXg&pvid=9c43643cd2a8e127&jp_cmp=cc/427586/aff/1531370/na
(https://creditcards.chase.com/a1/freedomunlimited?CELL=6H8X&AFFID=SWlnSnn6x54U.sot_EZUyhhqL4dnZfLXg&pvid=9c43643cd2a8e127&jp_cmp=cc/427586/aff/1531370/na)

Thereisa0%APRwithinthefirst15months.Wewouldgeta$150bonusforspending$500.Noannualfee.

Ali
(https://scienceleadership.instructure.com/courses/1450/users/1355)

(https://scienceleadership.instructure.com/courses/1450/users/1355)
Apr21,2016

greatcards.Andgoodjobatgettingallofthatinfoaboutthecards.IwouldgowithChase,butBlueCashdoesn'tseemthatbadeither

Otter
(https://scienceleadership.instructure.com/courses/1450/users/1322)

(https://scienceleadership.instructure.com/courses/1450/users/1322)
Apr22,2016

Theinformationaboutthecardsthemselvesisreallywelldone,becausealloftheadvantagesanddisadvantagesarecompletelyclear.BecauseChaseFreedomhasnoannualfeeandno
annualratewithinthefirst15months,Iwouldmostdefinitelygowiththembecausetheywouldhelpmespendtheleastmoneyinterestwise.Ibelievethat'swhereyouguysweregoingtoo!

Anastasia
(https://scienceleadership.instructure.com/courses/1450/users/2393)

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

1/10

4/30/2016

Topic:CreditCardScenarioDiscussion
(https://scienceleadership.instructure.com/courses/1450/users/2393)
Sunday

Youguysseemedtodoasolidjobonthoroughlyresearchingeachcard.Unlikemygroup,youconcludedwiththreegreatoptionsforslightlydifferentfinancialsituations.Forthemostpart
thepositivesofallthreecardsoutweighthenegatives.Asagroupdidyouguyscometoaconclusionaboutwhichcardtouse?

Alicia
(https://scienceleadership.instructure.com/courses/1450/users/1319)

(https://scienceleadership.instructure.com/courses/1450/users/1319)
Sunday

YouguysdidalotofgoodresearchandbeingthatyougetmoreoutofyourbucksforusingChaseFreedomUnlimitedsoIprobablywould'vechosethem.

Yasmeen
(https://scienceleadership.instructure.com/courses/1450/users/1309)

(https://scienceleadership.instructure.com/courses/1450/users/1309)
Monday

Theinformationyougatheredfromthedifferentcardswasverysufficient.Anareamygroupdidn'tfocusonwasalowpenaltyrate.Whichcarddidyoudecidetouseforthescenario?

Amanda
(https://scienceleadership.instructure.com/courses/1450/users/1335)

(https://scienceleadership.instructure.com/courses/1450/users/1335)
Monday

Nicejobonchoosingthebestcreditcards!Ilikehowyouchosetoincludeacashbackcardandyoudidverygoodjoboffindingresearch.

Crystal
(https://scienceleadership.instructure.com/courses/1450/users/1244)

(https://scienceleadership.instructure.com/courses/1450/users/1244)
Monday

1)Whatdoyounoticeabouttheirsituation?Howwasitsimilarto/differentfromthesituationthatyourgroupsolved?
Thissituationwascompletelydifferentfrommygroup'sscenariobecausewedidn'thaveanymoneyinoursavingsaccount.Wewerefreshoutofcollegewithnojobandthousandsofdollars
topayformonthlyexpenses,andhadnoextramoneytopaytheseexpenses.
2)Werethereanyfactorsthatthisgroupfocusedonthatyourgroupdidnot?Thiscouldincludebalancetransfers,0%APRperiodsoftime,orotherideas/solutions.
Thisgroupfocusedonthefactthattherearerewardswithacertainspendingamount.Forexample,withspending$500,thereisarewardof$150.
3)Whatquestionsdoyouhaveforthegroup?
Whydidyoudecidetochoosethesecards.Didyouhaveanypreviousknowledgeofthedifferentrewardsthatcomewiththecards?

Jamira
(https://scienceleadership.instructure.com/courses/1450/users/2755)

(https://scienceleadership.instructure.com/courses/1450/users/2755)
Monday

Cantellthatyouguysputalotofeffortandresearchintoyourscenario.Ilikethefactthatyouresearchednotjustone,butthreedifferentcardsthatgoodbenefityouinthesituationyouwere
placedin.Inmygroup,wedidnotfocusonthelowpenaltyratethewayyouguysdidandIfeellikethatwasaverygoodadditiontothescenario.Also,basedonyourresearch,Ithinkthat
ChaseFreedomUnlimitedcardwouldbethebestchoiceseeingasthoughyouaregettingmoreforyourmoney.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1366)
Jamilah

(https://scienceleadership.instructure.com/courses/1450/users/1366)
Apr20,2016

Jamilah,Amanda,andTy

Ourscenariosis#6

Basicallyacoupleinarelationshiponlymakes$1250amonthwithmonthlyexpensesthatcost$2000.Onepartnerisgoingonanunpaidmaternityleavefortwomonthsandthereneedstobe

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

2/10

4/30/2016

Topic:CreditCardScenarioDiscussion

moremoneycomingin.Thatmeansthattheirmonthlyincomewillonlybe$1250forthetwomonthsofmaternityleave.Thecreditcardthattheyusewillneedtoassurethattheycanspendmoney
aswellashavinglowAPRratesthattheycanrealisticallypay.

WedecidedthatthecarbestfitwouldbetheEverydayAmericanExpressCard.Itincluded:
0%APRforthefirst12months
13.24%to22.24%APRrateafterthefirst12mothsdependingonyourcreditworthiness
2pointsperpurchasesatU.S.supermarkets(Parentsofnewbornsoftenspendquiteabitofmoneyinsupermarkets)
Whenthecardisused20ormoretimes,20%morepointsonthose
purchaseslessreturnsandcredits
Abilitytohavemultiplecards

https://www.americanexpress.com/us/creditcards/amexeveryday/25330?linknav=ProspectHPMostPopularEverydayLearnMore

(https://www.americanexpress.com/us/credit

cards/amexeveryday/25330?linknav=ProspectHPMostPopularEverydayLearnMore)
EditedbyJamilahonApr25at9:12am

Haisha
(https://scienceleadership.instructure.com/courses/1450/users/1278)
(https://scienceleadership.instructure.com/courses/1450/users/1278)
Apr21,2016

Duringthe2monthstherewillbeatotalneedof$4,000andonlyonepersonisworkingmeaningthatinthe2monthstheywillmakeatotalof$2,500leaving$1,500unattained.Theremustbe
acreditcardthatcanhelppayforthemonthlyexpenseswhichisatotalof$1,500.Onecanpaytheminimumamountneededforthe2monthsdurationyetwhentheotherpersonisbackin
worktheycanputinmoreinordertopayitoff.Iftheotherpersonalsohasthesamemonthlyincomethereshouldbeatotalof$2,500mademeaning$500leftoverinordertopayoffthedebt
slowlymeaning3monthswithoutinterest.Formostcreditcardshaveadealinwhichthereis0%introAPRsothathelpsout.Meaningthatanewcreditcardshouldbeusedinwhichthe0%
introAPRisinit.Sotheycanpayitalloffin3months.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/2755)
Jamira

(https://scienceleadership.instructure.com/courses/1450/users/2755)
Apr20,2016

Group:Ona,Anastasia,Antonio,Jamira
Scenario:1
links:https://creditcards.chase.com/creditcards/chasefreedom.aspx

(https://creditcards.chase.com/creditcards/chasefreedom.aspx)

ThecreditcardwechosewastheChaseFreedomUnlimitedcard.Thereasonwechosethiscardisbecausewe'dreceivea$150bonusafterwespend$500onpurchaseswithinthefirst90days
withanunlimited1.5%cashbackonEVERYpurchase.Also,thereisa0%introAPRfor15monthonpurchasesandbalancetransfers.Afterthat,thereisa5%transferfee.Thereisa$0annual
fee.Youcanredeemforcashback,anyamountatanytime.ALSO,thedoNOTexpire!!!

Brandon
(https://scienceleadership.instructure.com/courses/1450/users/1241)

(https://scienceleadership.instructure.com/courses/1450/users/1241)
Monday

ThebonusforthiscardisverytemptingandIalsolikethe0%APRrate.

Kevin
(https://scienceleadership.instructure.com/courses/1450/users/1250)

(https://scienceleadership.instructure.com/courses/1450/users/1250)
Monday

IlikehowyoupayedspecialattentiontoChaseFreedomsAPRagreement,whichcouldtarnishyoursavings.Themostbeneficialaspectofyourmembershiptochasefreedomseemstobe
thatyoureceivemoneybackforhighendpurchasesaswellasacertainpercentageforbuyingregularconsumerproducts.Overall,thisseemstobethebestsolutiontothecurrentsituation.

Jamilah
(https://scienceleadership.instructure.com/courses/1450/users/1366)

(https://scienceleadership.instructure.com/courses/1450/users/1366)
Monday

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

3/10

4/30/2016

Topic:CreditCardScenarioDiscussion
Iagreethatthiscardseemstobethebestfit.Therearebenefitstobegainedwhenacertainamountisspentaswellasa0%APRfor15months.Thetimeframethat'sgivenisshorterthan
alloftheonesthatI'vedoneresearchon.ThelongestperiodthatIsawwas13months.Unlikemygroup,IlikedthatyoumadesureyourcardhadbenefitsalongwithlowAPRpercentages.

Vaughn
(https://scienceleadership.instructure.com/courses/1450/users/1240)
(https://scienceleadership.instructure.com/courses/1450/users/1240)
Monday

Ithinkthatcardcompanymaybethebestfitforyoursituationalso.Inoticedthatyourrewardsplanincluded1.5%cashback,oneverypurchase,whichisreallycool.Andthereisa$0
annualfee,whichmeansthattherewon'tbeanymoremoneycomingoutofyourpocket.Thosethingsareimportantthingstofocuson,thatareveryimportantinspecificsituationslike
yours.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1309)
Yasmeen

(https://scienceleadership.instructure.com/courses/1450/users/1309)
Apr20,2016

Scenario#4(YasmeenCollins,NylaMoore,andJaredTrusty)
Amex(EverydayCreditCard)
$10,000membershipsafterusingthecard
Noannualfee
Nointerestfor12months
Wearespending$2,000topayourcurrentcreditcardbalance.Afterpayingoffthefirstcreditcardwestillhave$500.ThenwewouldstarttheAmexcreditcardandbegintopayoffthe$3,500tofix
theroof.Wewilltrytodoabalancetransferfee.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1247)
Vilma

(https://scienceleadership.instructure.com/courses/1450/users/1247)
Apr20,2016

Oursituationisthatwedroppedourphoneonthesidewalkanddidnotgetapplecare.Wehave50inoursavingsaccountbutitcosts129tofix.Whatcreditcarddoweuse?
Wewillbelookingat:ChaseFreedomUnlimited(atleast5bucksbackmonthly)|CapitalOnePlatinumPrestige(atleast5bucksbackmonthly)|CitiDoubleCashBack(atleast5bucksback
monthly)
http://www.cardratings.com/bestcards/featuredcreditcards?src=313708&shnq=740108
http://www.moneycrashers.com/lowaprinterestcreditcards/
https://www.creditkarma.com/shop/creditcards/low_interest

(http://www.cardratings.com/bestcards/featuredcreditcards?src=313708&shnq=740108)

(http://www.moneycrashers.com/lowaprinterestcreditcards/)
(https://www.creditkarma.com/shop/creditcards/low_interest)

AllcardshavenoIntroAPRfeefor15months.
Sincewehave50inoursavings,wetakeoutthose50andareleftwith79fromthe129.Itwilltakeatmost3monthstopayoffwithouttheinterest.Thisappliesforallofthecards.

Logan
(https://scienceleadership.instructure.com/courses/1450/users/1257)

(https://scienceleadership.instructure.com/courses/1450/users/1257)
Sunday

Youguysdidreallygoodresearchanditseemsyouhaveaplantoinsurethateverythingispaid.Ilikehowthescenariowasincludeditgavegoodbackgroundofthesituationnotjustthe
creditcards.Ithinkthatthiscardwillbeveryeffective.

Chelsea
(https://scienceleadership.instructure.com/courses/1450/users/1242)

(https://scienceleadership.instructure.com/courses/1450/users/1242)

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

4/10

4/30/2016

Topic:CreditCardScenarioDiscussion
Sunday

IlikehowyourtablelookedintotheAPRofthespecificcardbecausethat'swhatwouldreallyaffectthepersoninthescenario.Sinceyoucanuseallthreecardsitdoesn'treallymatterwhich
oneyougowithasacompany.Youshouldlookintoallthefeesthatcomewiththeaccount,likethepaymentformanagementandupkeep,justincasethecompanymightchargetheperson
inthescenariothatway.

Ella
(https://scienceleadership.instructure.com/courses/1450/users/1810)
(https://scienceleadership.instructure.com/courses/1450/users/1810)
Monday

1)Whatdoyounoticeabouttheirsituation?Howwasitsimilarto/differentfromthesituationthatyourgroupsolved?
So,whatInoticedaboutthesituationwasthatyouguyschosetouseallyoursavings.Iwouldprobablyrecommendagainstthisbecauseafterwards,whereareyougoingtogetyourmoney
from?You'regoingtohavetokeepusingyourcreditcard.Otherthanthat,Ithoughtyourcardideaswereusefulandpractical.
2)Werethereanyfactorsthatthisgroupfocusedonthatyourgroupdidnot?Thiscouldincludebalancetransfers,0%APRperiodsoftime,orotherideas/solutions.
ThebucksbackmonthlywasagoodthingtolookatthatIdon'trememberusreallydoing.
3)Whatquestionsdoyouhaveforthegroup?
Whatareyourplansformoneyafteryouspendallyoursavings?

Teylor
(https://scienceleadership.instructure.com/courses/1450/users/1354)
(https://scienceleadership.instructure.com/courses/1450/users/1354)
Monday

1)Whatdoyounoticeabouttheirsituation?Howwasitsimilarto/differentfromthesituationthatyourgroupsolved?
Webothhavelittlemoneyandneedittopayforsomethinginourlifethatneedstobetakencareof.
2)Werethereanyfactorsthatthisgroupfocusedonthatyourgroupdidnot?Thiscouldincludebalancetransfers,0%APRperiodsoftime,orotherideas/solutions.
WelookedatthesamethingsAPRwasareallybigthingforusandsowasitforthisgroup.
3)Whatquestionsdoyouhaveforthegroup?
None

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1319)
Alicia

(https://scienceleadership.instructure.com/courses/1450/users/1319)
Apr20,2016

Alicia,Ali,KevinandHusain
Wehavescenarionumber#1andweretaskedwithfindingthebestoptionfora$5000principalrate,ontopofsavingforaTV.Outofthefourcreditcardsthatweresearched,wechoseVISAwhich
hadthelowestpenaltyfeeaswellasthelowestannualfee.Overall,thelowertheAPRthefasteryouareabletopayoffthethe5000dollardebt.
Link:https://www.bankofamerica.com/deposits/bankaccountfees.go
Link:https://usa.visa.com/paywithvisa/cards/cardadvisor.html

(https://www.bankofamerica.com/deposits/bankaccountfees.go)

(https://usa.visa.com/paywithvisa/cards/cardadvisor.html)

Link:https://www.americanexpress.com/us/creditcards/personalcardapplication/terms/bluecreditcard/25330100/?print#CardBenefitsTerms
(https://www.americanexpress.com/us/creditcards/personalcardapplication/terms/bluecreditcard/25330100/?print#CardBenefitsTerms)

Jared
(https://scienceleadership.instructure.com/courses/1450/users/1328)

(https://scienceleadership.instructure.com/courses/1450/users/1328)
Sunday

Iagreewithyourideaandthewayyoulookedatthecreditcardhoweveriwaswonderingifonhowthetvaffectedyourdecisionandwhetheraacardwith0aprforacertainamountoftime
wouldbebetter.Ialsoagreewithyourchoiceinthevisacardithasthebestaprrateandallowsyoutopaybackproperly.

Nyla
(https://scienceleadership.instructure.com/courses/1450/users/1255)

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

5/10

4/30/2016

Topic:CreditCardScenarioDiscussion
(https://scienceleadership.instructure.com/courses/1450/users/1255)
Monday

1)Forourscenario,wealsochoseVisa.
2.Anareathatwedidn'tfocusonwasalowpenaltyrate.
3.Whatwasthepenaltyfee?

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1242)
Chelsea

(https://scienceleadership.instructure.com/courses/1450/users/1242)
Apr20,2016

Logan,Chelsea,Myi,Crystal.
Wehadscenario#5
Wearejustoutofcollegeandwehavetogo1500intodebtsowecancoverlivingexpenses.Wehavetokeepthatdebtuntilwefindajob.
CreditCardOptions:
BankofAmerica:https://www.bankofamerica.com/creditcards/products/bankamericardcreditcard.go

(https://www.bankofamerica.com/creditcards/products/bankamericardcredit

card.go)
(https://www.bankofamerica.com/creditcards/products/bankamericardcreditcard.go)ItstartsoffwithalowAPRof11.24.Sincewearegoingintodebtwelookedatthisone,buttheothertwo

creditcardcompaniesofferedbetterdeals.

Chase:https://applynowdc1.chase.com/FlexAppWeb/renderApp.do?SPID=DV9S

(https://applynowdc1.chase.com/FlexAppWeb/renderApp.do?SPID=DV9S)

CashBack:$350(Theygiveyou150eachmonthfor3months)
APR:13.24
Thiswasthebestdealmainlybecauseyouractualstartingpriceis1350forthefirstmonthandgetsevenlowerforthesecondmonth.ThisdealalmosttakesawaythefeesthatcomewithAPR.
Sinceyouwillstartpayingtheloanbackafteronemonthitwasthebestdealbecauseyoustartalowerdebt.
CitiSimplicity:https://www.citi.com/creditcards/creditcarddetails/citi.action?ID=citisimplicitycreditcard

(https://www.citi.com/creditcards/creditcarddetails/citi.action?ID=citi

simplicitycreditcard)0%APRforthefirst21months.

Althoughthisisagooddeal,wedecidedtogowithchasebecauseofthecashbackoffer.ItgaveusmoremoneythannothavingAPRdid.

Reply

DeletedbyLewisonApr22at10:57am

(https://scienceleadership.instructure.com/courses/1450/users/1353)
Lewis

(https://scienceleadership.instructure.com/courses/1450/users/1353)
Apr21,2016

LewisFordandEmilyStephens(Scenario2)
https://www.wellsfargo.com/creditcards/features/cellphoneprotection/

(https://www.wellsfargo.com/creditcards/features/cellphoneprotection/)

WellsFargo:ForWellsFargo,they'rewillingtopayupto$600fortelephoneprotection.Youwouldneedtospend$25fromyoursavingsaccountforeachrequest.Assumingonlyonephoneneeded
coverage,itwouldleaveyouwith$25leftinyoursavingsaccount.
https://www.suntrust.com/Static/Documents/Personal_Banking/CCGuideToBenefits/Visa_Signature_GTB.pdf
(https://www.suntrust.com/Static/Documents/Personal_Banking/CCGuideToBenefits/Visa_Signature_GTB.pdf)

Suntrustwillprovideupto$250.00fortelephoneprotectioncoverage.$50fromyoursavingsaccountisthecopaymentforthisprotection.Soyouwouldn'thaveanythinginyoursavingsaccount
afterwards.
https://www.hancockbank.com/personal/pdfs/HB%20Cell%20Telephone%20Insert.pdf

(https://www.hancockbank.com/personal/pdfs/HB%20Cell%20Telephone%20Insert.pdf)

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

6/10

4/30/2016

Topic:CreditCardScenarioDiscussion

Hancockwillprovideupto$250.00fortelephoneprotectioncoverage.$50fromyoursavingsaccountisthecopaymentforthisprotection.Soyouwouldn'thaveanythinginyoursavingsaccount
afterwards.

WellsFargopresentsthebestofferformypartnerandIbecausethecopaymentischeaperthantheotheroption.$25cheaper.

DeletedbyLewisonApr22at10:55am

Miriam
(https://scienceleadership.instructure.com/courses/1450/users/1261)
(https://scienceleadership.instructure.com/courses/1450/users/1261)
Sunday

Yourgroupmadeagoodchoice.Youfoundanoptionthatwillstillleaveyouwithsomemoneyinyoursavingsaccountandarepairedphone.Ididnotknowsomecreditcardscoverphone
repairs.Thatisnicetolearn.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1701)
Chuckie

(https://scienceleadership.instructure.com/courses/1450/users/1701)
Apr21,2016

Group:Jessica,Chuckie
Scenario:3,a$5000expensewith$5500insavings,howwillitbepaidoff,creditcard?Savings?Both?

Becausetheexpensethatwehadwasalotofmoney,wewantedacardthatwouldhaveamuchlowerAPR,thatwayovertimewewouldnotaccruealotofDebt.thecardwechosewasa
Barclaycard,withan%8.25APR.Sinceourgoalistopayofftheexpenseover12monthswedecidedtopayitoffusingbothsavingsandcreditcardbecauseifweusedalloursavings,thenif
anotherbigexpensecamewewouldbewiped.So,wedecidedtodishout$1500andthenpaytherestoffwithacreditcard.Onceitwasallsaidanddonewiththecalculations,weendeduphaving
$35.44topayoffina13thmonthbutsincewepaidat$300amonth,wewouldbefine.

https://www.barclaycardus.com/applycontent/TnCs.jsp?tncURL=/banking/marketing/terms/credit/tc29594.jsp

(https://www.barclaycardus.com/applycontent/TnCs.jsp?

tncURL=/banking/marketing/terms/credit/tc29594.jsp)

EditedbyChuckieonApr21at1:56pm

Elizabeth
(https://scienceleadership.instructure.com/courses/1450/users/1691)

(https://scienceleadership.instructure.com/courses/1450/users/1691)
Apr21,2016

Ithinkthisisasmartdecision,especiallywiththesituationyouhave.Itseemsyouguysfoundthebestpossiblecardthatwouldworkbestforthisscenario,andithelpsyousavemoney

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1691)
Elizabeth

(https://scienceleadership.instructure.com/courses/1450/users/1691)
Apr21,2016

EllaBurrowsandHarryWellner
Scenario#4
WehavedecidedthatforoursituationthatwearegoingtousetheChaseSlatecreditcard.Wefoundthatinthefirst15months,thereisa0%introAPRforthefirst15billingscycles,sowhenwe
transferourmoneythataccountwewon'tbeloosingmoneyforthefirstyearand3months.Wehavedecidedtotransferour$2,000dollarstothisaccountwiththe0$transferfeewithinthefirst60
days.Withthatsaid,wewon'tbelosingourmoneywhentransferringtothiscreditcardeither.Thenput$2,000ontothenewcreditcard,sowewillpay$1,500fromoursavings,then$1,000from
boththeothercreditcardsthatwehave.Therefore,onthenewcreditcard,wewillhave15monthswithoutinterest,butwhenthatisup,wewillhavealowamountofmoney,meaninglowerinterest,
thereforelessmoneylost.

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

7/10

4/30/2016

Topic:CreditCardScenarioDiscussion
Emily
(https://scienceleadership.instructure.com/courses/1450/users/1778)

(https://scienceleadership.instructure.com/courses/1450/users/1778)
Apr21,2016

Youguysdefinitelyconsideredthelongrunintheprocessofpickingacardwhichisveryimportant.NotingthatthereisnoAPRinitiallywassmarttoconsiderbecauseithelpsyouwhenfirst
startingoutandmakessureyoudon'tlosemoney.Youstillhavetopayadecentamountofmoneyafterthefact,butIfeellikeyouboththoughtitout!

Jessica
(https://scienceleadership.instructure.com/courses/1450/users/1715)

(https://scienceleadership.instructure.com/courses/1450/users/1715)
Apr22,2016

Youguysdidreallygoodwithplanningahead,evenwiththelittleinformationthatyouweregiven.Ithinkthatitwasreallysmarttochoosethiscardbecauseofthebenefitsduringthemonth
andthenattheendofthemonth,withthepayment.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1796)
Jamal

(https://scienceleadership.instructure.com/courses/1450/users/1796)
Apr21,2016

JamalHamptonandAthaliaTan
Scenario#1

Yourcarbrokedownandyougotanestimatefromamechanicsayingthatitwouldcostabout$5,000torepair.Meanwhile,yourealsosavinguptobuyanewTV.Whichcreditcardwouldprovide
youwiththebestoptionforyoursituation?
OurfirstchoicesofcreditcardsthatwedecidedtoresearchwereCapitalOne,Visa,andChase.EachcardhadauniqueanddifferentadvantagesandherebutintheendwechoseCapitalOne.

VisaThevisacardprovidesapersonalloanswithanAPRof3.99%6.99%andaMaximumTerm(inmonths)24.Duetothefactthatiswasvagueandprovidealittlebitofinformationwe
decidedtonotevenputVisaintoourconsideration.

Chase

(https://creditcards.chase.com/creditcards/chasefreedomunlimited.aspx?CELL=6555&S81H=Y71UH0)Thechasecardreallycaughtoureyewiththebenefits.Forexample,Earn

unlimited1.5%cashbackoneverypurchaseit'sautomatic*.Also,0%introAPRfor15monthsonpurchasesandbalancetransfers.Aftertheintroperiod,avariableAPRof14.24%,19.24%or
23.24%.Balancetransferfeeis5%oftheamounttransferredwithaminimumof$5.

CapitalOne

(https://www.capitalone.com/creditcards/quicksilver/)Thecapitalonecardwasbasicallythesamethingasthechasecardbecauseithadthevariousbenefitsbutthereasonwhy

wechosecapitaloneisbecausethebenefitsfittedinoursituationthebest.
EditedbyJamalonApr21at10:32pm

Harrison
(https://scienceleadership.instructure.com/courses/1450/users/1787)

(https://scienceleadership.instructure.com/courses/1450/users/1787)
Apr22,2016

I'dliketoknowwhatthebenefitsoftheCapitalOnecardarethatfityoursituationthebest.Aretherecertainrewardsthatareespeciallyimportantforyoutouse,orwastheresomethingelse
thatwasfittingforyoursituation?Idolikehowyoudecidednottogowithsomethingvague,soyouwouldn'tendupinanevenworsesituation.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1261)
Miriam

(https://scienceleadership.instructure.com/courses/1450/users/1261)
Sunday

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

8/10

4/30/2016

Topic:CreditCardScenarioDiscussion

Miriam(IwasnotinclassbecauseofProm)
Ichosescenario5.
PartA:
Ihaverecentlygraduatedfromcollege,andwillprobablynothaveajobforatleastamonth.Ispend$1,500amonth,andneedtopaythose$1,500inexpenseswhilegettingintoaminimumamount
ofdebt.
CreditCardOptions:
BankAmericardCashRewardsCreditCard
https://consumer.bankofamerica.com/USCCapp/Ctl/entry?sc=VACNX5&GV10=H|926|7464433228#apply

(https://consumer.bankofamerica.com/USCCapp/Ctl/entry?

sc=VACNX5&GV10=H%7C926%7C7464433228#apply)

Thiscardwouldgivemetwelvebillingcyclestopaymybalanceinfullwithoutinterest.Thereisalsonoannualfee.Inaddition,Iwouldget$100backforspendingover$500inthefirst90days.I
wouldget2%ofmyspendingsbackatgrocerystores,3%backatgasstations,and1%backeverywhereelseupto$1,500inspendingsperquarter.
DiscoveritCashCreditCard
https://www.discover.com/creditcards/compare/?ICMPGN=TOPNAV_CREDITCARD_COMPARE_TAB

(https://www.discover.com/creditcards/compare/?

ICMPGN=TOPNAV_CREDITCARD_COMPARE_TAB)

Thiscardwouldalsohavea0%APRforthefirsttwelvemonthsIhavethecardwithnoannualfee.Thiscardwouldgiveme5%backatcertainplacesthatchangeeachquarterwith1%back
everywhereelse.AnycashIgetbackwouldbedoubledforthefirsttwelvemonths.
ChaseFreedomUnlimitedCard
https://creditcards.chase.com/creditcards/chasefreedomunlimited.aspx?CELL=6GTB&S81H=Y71UH0

(https://creditcards.chase.com/creditcards/chasefreedomunlimited.aspx?

CELL=6GTB&S81H=Y71UH0)

Thiscardwouldgivemefifteenmonthstopayoffmybalancewithoutinterest,andnoannualfee.Iwouldget$150backforspendingover$500inthefirstthreemonths.Iwouldget1.5%back
anywhereIusethecard.
BestChoice:
ThebestchoicewouldbetheChaseFreedomUnlimitedCard.Iwouldget$50morefromthiscardthanonefromBankofAmericaatleast.Iwouldalsoget1.5%backanywherewhenothercards
onlyoffer1%backanywhere.Iwouldalsohaveanadditionalthreemonthstopayoffmybalancewiththiscard.
PartB:
Iwouldalsooffermyclientfifteenmonthswithzerointerest,butofferbetterrewardsthanChase.Thatway,IwouldstartearningmoneyfrominterestatthesamepointChasewouldwhilealso
seemingmoreappealingtotheclient.Iwouldgive1.5%backeverywhere,aswellas3%backatgrocerystores,restaurants,andgasstations.Myinterestrateafterfifteenmonthswouldstay
under20%basedoncreditscorewhileChasecangoupto23.24%.Iwouldhavenolatefeeforthefirstlateness,andalatefeeof$10afterthat.Theminimumpaymentwouldbe10%ofthe
balance.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1766)
Tia

(https://scienceleadership.instructure.com/courses/1450/users/1766)
Tuesday

Tia
Ididscenario#2:
Forthisscenario,Idecidedtousethewhole$50dollarsfromthewholesavingsaccount,becauseIcanalwaysjustsavemorelateranditwillallowmetoowelesswhenputtingthechargeonmy
creditcard.Theremaining$79willbepaidonmycreditcard.

DiscoverCard:
https://www.discover.com/creditcards/cashback/itcard.html

(https://www.discover.com/creditcards/cashback/itcard.html)

Thiswouldbeagoodcreditcardoptionbecausetheyhave0%APRforthefirst12months,andifIwouldpayaminimumof$6.58eachmonth,therewillbedodebt.

CapitalOneQuicksilverRewards:
https://www.capitalone.com/creditcards/popular/?
Log=1&EventType=Link&ComponentType=T&LOB=MTS%3A%3ALCTMMQC4S&PageName=Credit+Cards+Home&PortletLocation=4%3B16col%3B2221&ComponentName=new
popularcardscard
cchp%3B19&ContentElement=2%3BSee+Popular+Cards&TargetLob=MTS%3A%3ALCTMMQC4S&TargetPageName=Popular&referer=https%3A%2F%2Fwww.capitalone.com%2Fcredit
cards (https://www.capitalone.com/creditcards/popular/?
Log=1&EventType=Link&ComponentType=T&LOB=MTS%3A%3ALCTMMQC4S&PageName=Credit+Cards+Home&PortletLocation=4%3B16col%3B2221&ComponentName=newpopularcards
cardcchp%3B19&ContentElement=2%3BSee+Popular+Cards&TargetLob=MTS%3A%3ALCTMMQC4S&TargetPageName=Popular&referer=https%3A%2F%2Fwww.capitalone.com%2Fcreditcards)

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

9/10

4/30/2016

Topic:CreditCardScenarioDiscussion

Thiswouldbeagoodoptionbecauseyouget1.5%cashbackwhenmakingapurchaseanditis0%APRforthefirst9months.MeaningIwouldhavetopayatleast$8.78permonthtobedebtfree
attheend.

ChaseFreedomUnlimitedCard
https://creditcards.chase.com/creditcardsearch.aspx?actionid=1&advkw=LSBROWSEOPEN&MSC=LSBROWSEOPEN

(https://creditcards.chase.com/creditcardsearch.aspx?

actionid=1&advkw=LSBROWSEOPEN&MSC=LSBROWSEOPEN)

Thisisthebestoptionsbecausefirstyouget1.5%cashbackonanypurchasebutalso,0%APRforthefirst15monthsmeaningyouwouldonlyhavetopayabout$5.27eachmonthtoenditwith
nodebt.

Reply

(https://scienceleadership.instructure.com/courses/1450/users/1245)
Arsenio

(https://scienceleadership.instructure.com/courses/1450/users/1245)
Tuesday

Youriphone6sscreencrackedbecauseyoudroppeditonthesidewalk.Unfortunatelyyoudidnotpurchaseapplecare+onyourphone.Youhave50dollarsinyoursavingaccountsbutitwillcost
you129dollarstoreplaceyourscreen.Whichcreditcardshouldyouusetodealwiththissituation.?

Iwillbeusingallofmymoneyfrommysavingaccounts.Leavingmewithadifferenceof79dollarstopayoff.

Chasecreditcard
Thiscreditcardisgreatoptionforbecauseithas0%APRfor15months.Thereisnoworryaboutpayinghighinterestrate.
https://creditcards.chase.com/0introaprcreditcards.aspx?CELL=6GTB&jp_ltg=leftnav&S81H=FH24R8

(https://creditcards.chase.com/0introaprcreditcards.aspx?

CELL=6GTB&jp_ltg=leftnav&S81H=FH24R8)

DiscoverCreditCard
2%cashbackatanygasstationsandrestaurant
1%cashbackonallotherpurchases
0%inAPRforsixmonths.Then13.24%22.24%Purchaseappliestothecard.
ThiscardisnotthebestformysituationsbecauseIwillneedtoworryaboutpayinghighinterestrateafterthe6monthsareup.
https://www.discover.com/creditcards/student/?ICMPGN=STL_CC_STUD_HOME

(https://www.discover.com/creditcards/student/?ICMPGN=STL_CC_STUD_HOME)

Capital1
0$annualfee,0%inAPRuntillJanuary2017then13.24%23.24%afterthatwillbeapplied.
3%feeontransferreduntilJanuary2017.
Thiscreditisnotbeneficialformysituationbecauseitonlyhas0%APRforsixmonths.Leavingmewithpayinghighinterestrateafterthosesixmonthsareup.
https://www.capitalone.com/creditcards/quicksilver/

(https://www.capitalone.com/creditcards/quicksilver/)

Reply

https://scienceleadership.instructure.com/courses/1450/discussion_topics/6802?module_item_id=81908

10/10