Answered: Which credit card offers the best…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. Which credit card offers the best interest rate? 2. Which credit card has the highest annual percentage rate? Platinum Citibank, Visa 3. What fee is the same for all the credit cards shown and how much is it? Cash Advance Fee, 3% 4. Which credit card has the highest annual fee? 5. Which credit card do you think is the worst card to obtain? Explain why. 6. Which credit card do you think is the best card to obtain? Explain why.

Type of Credit APR (%)
& Company
Over-the- Foreign
Annual
Late-
Cash
Payment Limit Fee
Fee
Transac Advance
Fee
Fee
tion Fee
Capital One, Visa
Signature
16%
$75
$35
$50
3%
3%
American
18%
$75
$50
$45
3%
3%
Еxpres
West Coast
$30
$45
Credit Union,
Master Card
11%
None
2%
3%
Platinum
Citibank, Visa
19%
$95
$75
$50
0%
3%

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