Question

Styles Paragrap Font Choosing Between Credit Card Options Review the Schumer Box information provided below for two credit card options, and then answer the question that follows CARD DISCLOSURES Credit Card Option A 24.99%, variable Credit Card Option B 13.24%, variable Annual Percentage Rate (APR) for Purchases and Transfers APR for Cash Advances Annual Fee Transfer Fee Grace Period 24 99%, variable $0 3% of balance transferred 20 days $25 No 23.24%, variable $59 $0 25 days 535 Yes Late Payment Fee Rewards Program Which one of these two card options would you choose for your personal use? Provide support for your decision, considering which three attributes are most important to you and trade-offs that you are willing to accept. Your response should be at least 100 words 8. Dee 閔益

Answer 1

8. I would choose option B credit card for my personal use. Have selected this option due to three plus points that is listed below.

a). The annual percentage rate for purchase and transfers and cash advances is 13.24 and 23.24 respectively which is relatively low compared to option A credit card which is good since the lower the APR the better it is.

b). Transfer fee is zero which is good.

c). Grace period is higher compared to plan A that is 25 days which is an advantage and this option can attract reward points which is also beneficial.

The trade offs that I am willing to accept is a higher annual fee and a high late payment fee.

7. Since the cash advances APR is higher so one must avoid asking for any cash advances. Try to obtain reward points when it's accepted , pay annual fee on time when applicable. Try to avoid late payments and avoid surpassing the grace period.

6.concentrate on paying off the balances before the due date and try to avoid the usage of the card until the payment is made by using this strategy we can avail the 1 percentage decrease in credit each month. Using the credit card after the credit balance is paid off to avoid latency fees and attain one percent decrease in credit.