Comparing Three Different Credit Cards

479 Words1 Page

After comparing three different credit card offers and accessing their advantages and disadvantages, I was able to select one. There were at least three reasons why the card was selected. I choose the card for several reasons. Card 2 offers a decent annual percentage rate. The introductory rate is 0% for the first six months. There is no minimum interest rate. Card 2 also offers the lowest penalty rates available.
My decision-making process involved comparing and evaluating the aspects of each credit card offer. I carefully looked at the following categories: What was the annual percentage rate for purchases? Is the annual percentage rate for purchases? What is the introductory rate and how long does it last? What is the annual percentage rate for balance transfers? What is the annual percentage rate for cash advances? What is the penalty annual percentage rate? Is there a minimum interest rate? What are the set-up and maintenance fees? Transaction fees? Penalty fees? How is the balance calculated?
All these questions and more should be accessed when such a decision. There were one or more characteristics of the card that the consumer must be aware of to use it responsibly. I penalty percentage rate can apply to your account if you make a late payment, go over your …show more content…

When choosing and selecting a credit card it's important to remember that your introductory rate will only last for a specific amount of time before increasing. This change usually takes effect after six months to a year. Many consumers are attracted to theses low-interest rates unaware the issuer will later increase their rates. I think it's also important for credit card holders to know how to avoid paying interest on purchases. Unaware of these charges, consumers can quickly acclimate fees. They will not charge you any interest on purchases if you pay your entire balance by the due date each

Open Document