Question

Can you find 5 credit card offers, report the name of the credit card company, the annual fee, the annual percentage rate on balances, if the card offers a rewards program and if so what are those rewards? Which card would you select and why?

Answer 1

Answer :

Report on Credit Cards :

Sl No.	Credit card	Annual Fee ( ‘$’)	Annual Percentage Rate (‘%’)	Rewards
1.	HSBC	$ 0	3.25	5 points for every $100 spent
2.	HDFC	$ 0	3.10	4 points for every $100 spent
3.	CITI Bank	$ 500	3.60	6 Points for every $ 100 Spent
4.	Axis Bank	$ 1000	3.40	5 points For every $100 Spent
5.	SBI	$ 2000	3.00	-Nil-

In the above credit card options I choose “HDFC” Credit card because comparing to all cards, HDFC card don’t have any annual fee and the Annual Percentage rate is less. While compared to HSBC, HDFC card holder will get less reward points but the main priority is Annual Percentage Rate as it effects the Repayment of the outstanding amount. A small percentage will gives a huge difference while calculating the repayment amount.