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.