Comparing Credit Card Offers

Instructions
Compare credit card offers from 2 banks, 2 retail stores, and a travel/entertainment card. Look for the features each card offers. Compare these offers
with other cards that you already hold (if applicable). Complete the table below to summarize your findings. Answer the questions at the end of the
worksheet. Type your responses directly into this worksheet. Save your work and then submit it in I-Learn.

APR Annual Fee Grace Period Minimum Payments Transaction Fees Credit Returns
U of U Credit Union 15.24% No 30 Days Yes Yes Yes
Zions Bank 15.49% No 30 Days Yes Yes Yes
Gap 24.99% No 30 Days No Yes No
Target 23.40% No 25 Days Yes Yes Yes
Delta American Express 25.24% $95 30 Days Yes No Yes

1. Reaction to what you learned in this comparison: ____I think it is so fascinating at the fact how these companies don’t want you to pay your payments
on time so they can make more money from you which is super expensive. Not only would you be paying the APR with a late payment, there is a usually a
transaction fee as well so this only reemphasizes the fact at how important it is to pay on time. ________________________________

2. Based on what you have learned in this lesson, will you use credit cards and/or consumer loans? Why or why not? ___I definitely think I will use credit
cards in the future, but as of right now I don’t think I will. I think they are great to help build credit and if one can be good about paying them on time,
they are great to have either from a bank, or the other one I would use is the American Express from Delta as it offers great miles for when you want to
use them for trips. ______________
Example
(Note: The following information is fictional; do NOT use as fact.)

APR Annual Fee Grace Period Minimum Payments Transaction Fees Credit Returns
Wells Fargo 12% $75 30 days Yes Yes Yes
Key Bank 15% $50 30 days Yes Yes Yes
Maurices 22% None 30 days Yes No Yes
Old Navy 10% None 30 days Yes No Yes
American Express 18% $100 30 days No No Yes

1. Reaction to what you learned in this comparison: I would choose the Old Navy card because it is where I love to shop! It offers the lowest APR.
American Express has to be paid off completely every month. I can actually use my Old Navy card to purchase food as well. Additionally, they don’t charge
me for everything the other cards do.

2. No example available.

Reminder
Add a copy of this completed worksheet to the “Credit” section of your Financial Records System.