Scribd Logo
Upload

Welcome to Scribd!

  • 22 views

    03.04 - Credit - Offer

    Uploaded by

    eniqueperry7

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    03.04 - Credit - Offer

    Uploaded by

    eniqueperry7
    22 views2 pages

    Original Title

    Copy of 03.04_credit_offer.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views2 pages

    03.04 - Credit - Offer

    Uploaded by

    eniqueperry7

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Credit Offer Template

    Part One–Research
    Use the template to record the credit offers you've researched.

    Type of Credit Benefits/Incentives APR Fees and Rules (tip: do not list
    (Credit Card, Auto “no rules or fees.” All credit
    Loan, Student offers have rules and fees.
    Loan, etc.) Locate the Schumer Box and list
    the many rules and fees.)

    Credit Offer #1 Earn unlimited 3% cash back on 19.9% Transaction fees: 4% of the transfer
    dining, entertainment, popular balance amount
    Name and DIRECT link to that Credit Card streaming services and at grocery 26.24%
    offer: Savor One Rewards for stores, plus 1% all other purchase Cash Advance Fees: Either $5 or 5%
    29.99% of each cash advance amount
    Students (Capital One)
    https://www.capitalone.com/ Penalty Fees: Up to $40 for late
    credit-cards/savorone-studen payments
    t/

    Credit Offer #2 You are eligible to receive 5% cash The interest Balance Transfer: Introductory fee
    of 3% of the amount of each
    back on your everyday purchases. rate ranges
    Name and DIRECT link to that transfer.
    offer: Discover It Cash Back Additionally, you will benefit from from 18.245
    Credit Card Cash Back Credit an unlimited dollar-for-dollar to 28.24
    Credit Card Cash Advance: Either $10 or 5% of
    Cards - Discover match of all the cash back you and is the amount of each cash advance,
    earn at the end of your first year. contingent which is greater.
    You can conveniently use your upon your
    rewards when making payments creditworthi Late Payment: No fee the first time

    Unless Otherwise Noted All Content © 2023 Florida Virtual School. FlexPoint™ is a trademark of Florida Virtual School.
    through Paypal. ness. you pay late. After that, up to $41.

    Return Payment: Up to $30

    Part Two–Evaluate
    Analyze the offers and answer the following questions:

    1. How do credit card companies determine the amount they’ll give you as a credit limit? Credit card companies assess your credit limit by taking into
    account your credit score, income, credit history, and existing debt.

    2. What are the penalties for late payments? Late fees, increased interest rate, and a negative effect on your credit score can be the consequences of not
    making timely credit card payments

    3. Which offer presents a better deal for the consumer? Explain why. Discover is currently providing an outstanding offer to customers by increasing the
    cash back rewards for every transaction.

    4. Choose one of these two credit offers that you think is the best fit for your lifestyle. Explain why. As a student, I find that the Capital One option tailored
    to student benefits is the most suitable choice for me.

    5. How can the use of credit impact you positively and negatively? Utilizing credit can have both positive and negative impacts on your life. On the bright
    side, having credit enables you to purchase items that you may not have the immediate funds for, such as a car or a house. It can also assist you in
    establishing a favorable credit score, which is crucial for obtaining loans in the future. When you use credit prudently, it can simplify your life and aid you
    in reaching your objectives. However, there are also drawbacks to using credit. Overspending or failing to pay your bills on time can result in debt, which
    can be overwhelming. High interest rates can make it challenging to settle your debts, thus harming your credit score. Therefore, while credit can be
    beneficial, it's essential to use it cautiously to avoid adverse repercussions.

    Unless Otherwise Noted All Content © 2023 Florida Virtual School. FlexPoint™ is a trademark of Florida Virtual School.

    You might also like