A Checklist For Card Holders
posted: 474 DAYS AGO
filed under: Credit Cards
To help compare and evaluate your existing credit cards, as well as card offers, you may wish to set up a checklist.
A checklist includes the basic and essential features of a credit card discussed in this educator.
You may wish to expand the checklist to evaluate introductory offers and rewards cards.
Although the checklist may contain other features, it should include, at a minimum, the following information:
| Â Feature |
Example A | Example B | Your Card |
| Regular interest rate: |
14.50% | 17.50% | Â |
| Index rate: |
Prime | Prime | Â |
| Interest rate spread: | 4.00% | 9.00% | Â |
| Cash-advance charges: |
21.00% | 21.00% | Â |
| Over-the-limit charges: |
21.00% | 21.00% | Â |
| Annual fee: |
$35 | $30 | Â |
| Grace period (days): |
25 | 25 | Â |
| Teaser rate: |
Yes | No | Â |
| On new purchases: |
3.90% | -- | Â |
| On transfer balances: | 3.90% | -- | Â |
| Introductory period: |
6 months | -- | Â |
| Regular rate on transfer balances: |
16.50% | 17.50% | Â |
| Rewards card: |
No | Frequent-flier | Â |
| Reward earned: |
-- | Miles | Â |
| How reward is earned: |
-- | 1 mile/$1 purchases |
 |
| Reward on transfer balances: |
-- | 500 miles each $1,000 |
 |
| Bonus offer: | -- | 1,000 miles first 3 years |
 |
| How many needed for reward: |
-- | 25,000 miles | Â |
| Reward description: |
-- | Round-trip ticket (domestic) |
 |
The above information is educational and should not be interpreted as financial advice. For advice that is specific to your circumstances, you should consult a financial or tax adviser.
2008-07-21 15:31:37
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