• Write 1 to 2 sentences in your own words for each vocabulary word listed below to show understanding of that topic of credit. DO NOT simply copy the sentence(s) given - show your understanding by restating in your own words what each of the topics mean.
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• Read Page 5 of https://drive.google.com/file/d/1g929CRwQ6kJdHHdxBWV-hCUX3ESSklUK/view
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  • Credit Card - include your understanding of the difference between a charge card and debit card.
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  • Annual Percentage Rate (APR)
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  • Grace Period
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  • Annual Fees
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  • Transaction Fees
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• Look for two separate credit card offers. You can do this by typing 'credit card offers' and the current year into Google. Make a chart with a column for each offer and note the following under each. Be sure to include the links where you found your information. To get full points you must evaluate 2 different credit card offers.
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  • What is the annual percentage rate (APR)?
  • Is there an introductory rate? If so, how long does it last? What will the APR rate be after that period?
  • Is the APR for cash advances different than the APR for purchases? If so, what is the APR for cash advances?
  • Does the card have a cash-back feature? If so, how does it work?
  • Is there an annual fee? If so, how much is it?
  • What is the late payment fee?
  • What happens if you default? Will your interest rate increase? If so, what will the new rate be?
  • What other important information is provided?
  • Is this a credit card that you would feel comfortable applying for?