Lesson Objectives
- Use information to choose the best credit card to meet your needs
Assignment CU5.4
- Use this link (Espanol) to identify the steps for choosing the right card for you.
- Choosing the Credit Card:
- Choose three credit card companies that you might consider using someday. Examples include: Chase, Discover Card, MasterCard, Visa, American Express, etc…
- Choose a card within each company to research
- Identify the following components with each of the credit cards: APR, Annual Fees, Credit Limit, Grace Period, and anything significant in the fine print. Look for a Terms and Conditions link on the web page as it will have all the specifics about the card.
- Make a copy of this Google Document (Espanol), move it into your Lesson 5 folder, and name it My Credit Card Choice-(your initials). Your table should look similar to the example below when completed.
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Credit Card APR Annual Fee Transaction Fee Credit Limit Grace Period Minimum Payment Reward Other American Airlines – Citi 19% $15.00 3% of transfer $4,000.00 10 days $15.00 Earn 1 mile for every $1 spent on purchases Scheels Visa 24% $35.00 $10 or 3% of cash advance $10,000.00 5 days $10.00 3 points for per $1 spent at SCHEELS and 1 point per $1 spent everywhere else Discover 15% $50.00 $15 for transfer $1,500.00 15 days $25.00 2% Cash back
- Based on your research, choose one of the cards and create a poster to represent what the card looks like and showcase the things that would make this card desirable to customers. The front side of your poster should depict your drawing of the credit card itself and use the back side to provide the details about the card. (Poster needs to be in color)