Card1 Card2 Card3

No-fee Scotiabank Presidents Choice Home Depots

Value VISA Financial World Consumer Credit Card
MasterCard
Annual Fee There is no annual fee There is no annual fee There is no annual fee
associated with this associated with this associated with this
card. card. card.
Grace Period 21 days for new 21 days for new This grace period is at
purchases, if you pay purchases. The grace least 25 days.
off your balance on period is at least
your monthly
statement in full by the
payment due date. This
grace period will be
automatically extended
to at least 25 days
on your next monthly
statement whenever
you do not pay your
balance in full by the
payment due date
16.99% on purchases, 19.97% on purchases, 17.99%, 21.99%,
APR cash advances, balance 22.97% on cash 25.99%, or 26.99%
transfers and Scotia advances based on your
Credit Card Cheques. creditworthiness.
Credit Limit The minimum credit Depends on credit Initial credit limit will
limit on this card is history. be on the printout and
$500. may change at any
time.
Finance Your finance charges 2.2% Any past due amount.
Charge will include Interest Any past due amounts We add any amount
Charges on your plus: statement specified in a
monthly statement, balance if $10 or less or promotional offer. We
plus cash advance the greater of add any amount
fee(s), plus any $10 required by the
dishonored payment 2.2% of your total Promotion Calculation.
fees, plus any statement balance or We also add the largest
dishonored the interest charges of the following: -The
Scotia Credit Card and fees billed on the Calculated New
Cheque fees, plus current statement plus Balance if it is less than
$10.00 $1 $25

Transaction Fees 3.00% of the amount of Minimum transaction None

each transaction. fee of $3.50
Minimum transaction
fee of $3.50.
Fees for Late Payment $29.00 $29.00 The fee will $25; or $35
for any additional past
due payment during
the next six billing
cycles after a past due
payment.

Other Features Save on car rentals Up to four free No interest if paid in

with discounts of up to additional cards full within 6 months on
20% at participating on your account for purchases $299 or
AVIS car rental family members, so more.
locations worldwide you can earn PC points
even faster

1. Which credit card has the highest annual percentage rate and how much is it? Home Depot's
consumer credit card has the highest annual percentage rate, with its highest annual percentage rate at
26.99%.

2. What method is used to calculate the monthly finance charges for the first major credit card? The
method that is used is adding together the interest Charges, fees, $10.00 plus any overdue or over limit
amount.

3. When does the finance charge begin to accrue on the credit card from the local department store?
The finance charges begin to accrue on the credit card from the local department store after the grace
period.

4. Do any of the cards have annual fees? If so, which one(s) and how much is the fee? No, all the cards
have no annual fee.

5. Is there a transaction fee on any card? If so, how much is it? On the two first major credit cards there
are transaction fees. Both of them have a minimum amount of $3.50 and the first one is 3.00% of the
amount of the transaction.

6. Is there a minimum finance charge on either of the major credit cards? If so, how much is it? Yes there
is on both of them, the first one is 10 dollars. The second card takes the greatest out of $10, 2.2% of
your total statement balance, or the interest charges and fees billed on the current statement plus $1.

7. Does the first major credit card charge a fee for late payments? If so, how much is it? Yes it does, the
fee for a late payment is $29.00.

8. What is the grace period on the credit card from the local department store? The grace period on the
credit card from the local department store is at the least 25 days.

9. Jamel wants to buy a new CD player that costs $450. According to his budget, he can afford payments
up to $62.00 per month. Which of the three credit cards youve found would you recommend Jamel use
to purchase the CD player? Why? I would recommend the no-fee scotiabank value visa because it has no
annual fees, the credit limit on the card is $500, and the annual percentage rate is low