Explain what you learned by comparing the three credit cards (see below) and which credit card offer
Question:
Explain what you learned by comparing the three credit cards (see below) and which credit card offer do you think is the best for you and why?
Credit Card Feature | Card #1 Apple credit card | Card #2 Discover: Student Cashback | Card #3 Capital One: Quicksilver Rewards |
APR (annual percentage rate): Is it fixed or variable? | 10.99% to 21.99% (19.99%) | 12.99%to21.99% | 26.99% variable APR |
Penalty APR and trigger events when it is charged | None | None | None |
Annual fee | No annual fee | No annual fee | No annual fee |
Late fee | No late fee | Nonethe first time you pay late. After that, up to$40. | Up to$40 |
Over-the-limit fee | No over-the-limit fee | No over-the-limit fee | No over-the-limit fee |
Transaction fees (balance transfers, cash advances, etc.) | No fees | -Intro fee of3%of the amount of each transfer for transfers that post to your account by May 10, 2022 with the 10.99% intro APR balance transfer offer described above. After that,5%of the amount of each transfer. -Either$10or5%of the amount of each cash advance, whichever is greater. | -3%of the amount of each transferred balance -None for balances transferred at the Transfer APR. - Either$10or3%of the amount of each cash advance, whichever is greater. -No foreign transaction fees |
Grace period | 30 days | 25 days | 25 days |
Method for computing account balance | Daily balance (including new transactions) | Daily balance (including new transactions) | Average daily balance |
Rewards for use | 3% cashback on all Apple purchases, 2% on all purchases via Apple Pay, and 1% on all other purchases | 5% cash back on everyday purchases at different places each quarter up to the quarterlymaximum when you activate. Unlimited 1% cash backon all other purchases | Unlimited 1.5% cash back on every purchase, every day |
Other features | -No annual fees, no foreign transaction fees, or late fees. -Free Apple-designed titanium card | -Discover will automatically match all the cash back you've earned at the end of your first year -No credit score required toapply | -24-hour Travel Assistance Services -Complimentary Concierge Service |
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna