Name:___Emily Hatch_________

Date:___November 30, 2015____

Class Period:_2_

Shopping for a Credit Card

Directions: Find and evaluate three credit card offers. Fill in the appropriate space on the chart below and summarize your results by
answering the questions following the chart. Not every offer will include all the information on this list, if the information is not included put an
NA in the box.

Card Costs or Features

Card A

Card B

Card C

Card Name

Choice Privileges

Platinum

Discover Miles Card

Issuer

Visa

Mastercard

Discover

Brand

Visa

Mastercard

Discover

Rate Basis (Fixed, Variable: Prime +___ or Variable: Prime +

Variable: Libor +___)

Variable: Prime +

Variable: Prime +

APR

Range of 9.74 - 17.74%

0% until the last day of billing

period endin during May 2007**
then estimated rate b/w 10.99 17.99%

Range of 17.74 - 21.74%

Introductory APR

1.90% N/A

N/A

Duration of Introductory APR

First six billing cycles

N/A

N/A

Reward Type

Points

Tiers

Earn 1 mile/$1 of net purchases

made - maximum award of
60,000 miles per account each
year

Annual fee

None

None

None

Number of days in grace period

At least 20 days

Not less than 20 days

At least 25 days when you pay

your balance in full each month

Late payment fee

$19 for balances less than or

equal to $250 and $39 for
balances greater than $250

$29 $15 on balances up to $500, and

$39 on balances over $500
$29 $15 on balances up to $500, and
$39 on balances over $500

Over-the-credit-limit fee

$35

Minimum Finance charge

$1.50 (unless purchase Average

Dialy Balance is 0)

Cash advance fee

3% (min $10)

N/A

3% for each cash advance, with

a minimum of $5 and no
maximum

Cash advance APR

Varies, currently 23.74%

Range of 9.74 - 25.74%

depending on the tier. Past due
25.74%

20.99 % or 22.99%

Balance Transfer fee

3% (min $10)

N/A

N/A

Balance Transfer APR

None

Ranges 9.74 - 17.74 %

0.00% until the last day of the

billing period ending during May
2007**, after standard APR for
purchases

Currency Exchange Fee

N/A

N/A

N/A

$1

$50

Billing Method

N/A

N/A

N/A

Credit line or limit

N/A

N/A

N/A

Default or Universal Default

N/A

N/A

N/A

Which credit card is the best choice?

el that card C,
Discover Miles Card, is the best option. I believe this is so because all their rates seem to be the lowest. I also like that they give the option of miles per purchases, which is very
Why?