CH.6P1-6 - Premium Credit Card customer profile high income...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Kory Nieuw Personal F Ch. 6 P 1-6 Mar. 10, 20 P.1 Ted is right that it is an easy one stop shop for cash, but in reality that cash is like taking out a lo and you pay immediate intrest loans on it. When you get it, you are charged a fee of 2-4% of the amount taken out and then you are charged intrest until both your credit card purchases are paid for and then the cash advance is paid for. So, with this said, Mitch is most correct. P.2 14.00% 16.00% 18.00% Average Daily Balance $550.00 $6.42 $7.33 $8.25 Previous Balance $1,000.00 $11.67 $13.33 $15.00 Adjusted Balance $100.00 $1.17 $1.33 $1.50 Yes, shopping for the lowest intrest rate is important. P.3 Customers should be wary of credit cards due to the ease of spending money, loseing track of th money you spent, and paying continuous intrest. Also to be wary of credit card applications, be sure to read all fine prints. P.4 Bank Credit Card customer profile - previous credit and features from the 5 C's
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Premium Credit Card customer profile - high income and strong credit report Affinty Credit Card customer profile - member of the issuing group or previous supporter of the charity or graduate of issuing college Secured Credit Card customer profile - bad or weak credit report P.5 It is said that you should gat a credit report at least once a year, but recommended every few months. If you checked it and find no mistakes, it may not be necessary to check again before applying for credit or before applying for a job. P.6 It will take Rachel 47 months to pay off the $8,000 balance. She could try finding a card with a l interest rate and do a balance transfer. But, she can't acquire too much new credit or close the existing account due to possible factors that will lower her credit score. wkoop Finance 009 oan e id the lower...
View Full Document

This note was uploaded on 04/25/2010 for the course FINC 110 taught by Professor Bunker during the Spring '09 term at Westminster UT.

Page1 / 2

CH.6P1-6 - Premium Credit Card customer profile high income...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online