Card1 Card2 Card3

No-fee Scotiabank Presidents Home Depots

Value VISA Choice Financial Consumer Credit
World Card
MasterCard
There is no annual fee There is no annual fee There is no annual fee
Annual Fee associated with this associated with this associated with this
card. card. card.
21 days for new 21 days for new The grace period is at
purchases, if you pay off purchases. least 25 days.
Grace Period your balance on your
monthly statement in
full by the payment due
date. This grace period
will be automatically
extended to at
least 25 days on your
next monthly statement
whenever you do not
pay your balance in full
by the payment due
date.
16.99% on purchases, 19.97% on purchases, 17.99%, 21.99%, 25.99
APR cash advances, balance 22.97% on cash %, or 26.99%
transfers and Scotia advances. based on your
Credit Card Cheques. creditworthiness.
The minimum credit Depends on credit Initial credit limit will
Credit Limit limit on this card is history. be on the printout and
$500. may change at any
time.
 Your finance charges Any past due amounts, Any past due amount.
Finance will include Interest plus: your statement We add any amount
Charges on your balance if $10 or less, or specified in a
Charge
monthly statement, plus the greater of: promotional offer. We
cash advance fee(s), add any amount
plus any dishonored (a) $10 required by the
payment fees, plus any (b) 2.2% of your total Promotion Calculation.
dishonored Scotia Credit statement balance, or We also add the largest
Card Cheque fees, (c) the interest charges of the following:
plus $10.00. In addition, and fees billed on the -The Calculated New
amounts showing on current statement Balance if it is less than
your monthly statement plus $1. $25.
as OVERDUE or -$25 if the Calculated
OVERLIMIT must be New Balance is at least
paid immediately and $25.
will be added to the -1% of the Calculated
minimum payment New Balance plus the
amount of your billed
interest charges on
that balance, any
minimum interest
charge allocated to
that balance, and any
applicable late fee.

Interest Charges + Fees Calculate balance. They use a method

Method of + $10.00 plus any called daily balance
Calculating overdue or over limit (including current
Finance Charges amount. transactions).

3.00% of the amount of Minimum transaction None

each transaction. fee of $3.50.
Transaction Minimum transaction
Fees fee of $3.50.

$29.00. $29.00. The fee will $25; or $35

Fees for Late for any additional past
Payment due payment during
the next six billing
cycles after a past due
payment.
Save on car rentals with Up to four free No interest if paid in
discounts of up to 20% additional cards on full within 6 months on
Other Features at participating AVIS car your account for family purchases $299 or
rental locations members, so you can more.
worldwide. earn PC points even
faster.
1. Which credit card has the highest annual percentage rate and how much is it? Home Depot's
consumer credit card has the highest annual percentage rate, with its highest annual percentage rate at
26.99%.

2. What method is used to calculate the monthly finance charges for the first major credit card? The
method that is used is adding together the interest Charges , fees, $10.00 plus any overdue or over limit
amount.

3. When does the finance charge begin to accrue on the credit card from the local department store?
The finance charges begin to accrue on the credit card from the local department store after the grace
period.

4. Do any of the cards have annual fees? If so, which one(s) and how much is the fee? No, all the cards
have no annual fee.

5. Is there a transaction fee on any card? If so, how much is it? On the two first major credit cards there
are transaction fees. Both of them have a minimum amount of $3.50 and the first one is 3.00% of the
amount of the transaction.

6. Is there a minimum finance charge on either of the major credit cards? If so, how much is it? Yes
there is on both of them, the first one is 10 dollars. The second card takes the greatest out of $10,
2.2% of your total statement balance, or the interest charges and fees billed on the current statement
plus $1.

7. Does the first major credit card charge a fee for late payments? If so, how much is it? Yes it does, the
fee for a late payment is $29.00.

8. What is the grace period on the credit card from the local department store? The grace period on the
credit card from the local department store is at the least 25 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? Why? I would recommend the no-fee scotiabank value visa because it has no
annual fees, the credit limit on the card is $500, and the annual percentage rate is low.