Austin

CIBC Aventura Visa TD Cash Back Visa Presidents

Infinite Card Infinite Card Choice Financial World
MasterCard

Annual Fee $120 $120 None

Grace Period 25 Days 25 Days 21 Days

APR 19.99% 20.99% 19.97%

Credit Limit Depends on credit $5,000 minimum Depends on credit

history history

Finance
None None None
Charge

Method of
Calculating Monthly Monthly Monthly
Finance Charges

Transaction None None None

Fees

Fees for Late Contact Customer Contact Customer Contact Customer

Payment Service Service Service

Earn 6% in Cash Back

Every dollar spent = 1 Dollars on all purchases Earn PC points
Other Features Aventura Point for the first 3 months.
Up to a total spend of
$3,500.
 shopping for credit

Credit card costs and features can vary greatly. This exercise will give you a
chance to shop for and compare the costs and features of three credit cards.

directions
Using the attached form, research the costs and features of:
Two major credit cards
One credit card from a department

store When youre done, answer the

following questions.

what did you find?

1. Which credit card has the highest annual percentage rate and how much is
it?
TD Cash Back Visa Infinite Card with a APR of %20.99
2. What method is used to calculate the monthly finance charges for the first
major
credit card? Exact credit balance every day of billing cycle then multiply it by daily
rate

3. When does the finance charge begin to accrue on the credit card from
the local department store? 1 month later

4. Do any of the cards have annual fees? Yes.

If so, which one(s) and how much is the fee? TD Cash Back Visa Infinite Card
and CIBC Aventura Visa Infinite Card with $120 each

5. Is there a transaction fee on any card? No.

If so, how much is it?

6. Is there a minimum finance charge on either of the major credit cards?

No.

activity 8-1b choices & decisions credit cards

 If so, how much is it?

7. Does the first major credit card charge a fee for late payments? Not exact

fee, but says contact customer service

If so, how much is it?

8. What is the grace period on the credit card from the local department
store? 21 days

9. Jamel wants to buy a new CD player that costs $450. According to his
budget, he can afford payments up to $62.00 per month. Which of the
three credit cards youve found would you recommend Jamel use to
purchase the CD player? Presidents Choice Financial World MasterCard
Why? I would choose this card for Jamel because it has a low apr and no annual
fee.

activity 8-1b choices & decisions credit cards