CREDIT CARD ASSIGNMENT

No-fee Scotiabank Presidents Home Depots

Value VISA Choice Financial Consumer Credit Card
World
There is no annual fee M t is no
There C annual
d fee There is no annual fee
associated with this associated with this associated with this
Annual Fee card. card card.

21 days for new purchases, 21 days for new The grace period is at
if you pay off your balance purchases. least 25 days.
Grace Period on your monthly
statement in full by the
payment due date.
16.99% on purchases, cash 19.97% on purchases, 17.99%, 21.99%, 25.99
advances, balance transfers 22.97% on cash %, or 26.99%
and Scotia Credit Card
APR Cheques. advances. based on your
creditworthiness
The minimum credit Depends on credit Initial credit limit will
limit on this card is history. be on the printout and
Credit Limit $500. may change at any
time
Your finance charges will include ny past due amounts, plus: your Any past due amount. We add any
Interest Charges on your monthly statement balance if $10 or less, or the amount specified in a promotional
statement, plus cash advance fee(s), greater of: offer. We add any amount required
Finance plus any dishonored payment fees, a) $10 by the Promotion Calculation. We
plus any dishonored Scotia Credit Card (b) 2.2% of your total statement also add the largest of the following:
Charge balance, or (c) the interest charges and
Cheque fees, plus $10.00 -The Calculated New Balance if it is
fees billed on the current statement plus
less than $25.
$1.
Interest Charges + Fees + $10.00 Calculate balance.
They use a method
plus any overdue or over limit
Method of amount called daily balance
Calculating (including current
Finance Charges 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

for any additional past
Fees for Late due payment during
Payment the next six billing
cycles after a past due
payment
Save on car rentals with No interest if paid in
discounts of up to 20% at Up to four free additional full within 6 months on
Other Features cards on your account for
participating AVIS car purchases $299 or
family members, so you can
rental locations worldwide. earn PC points even faster. more.
1. Which credit card has the highest annual percentage rate and how much is it? Home
Depot'sconsumer credit card has the highest annual percentage rate, with its highest annual percentage
rate at26.99%.

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

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
graceperiod.

4. Do any of the cards have annual fees? If so, which one(s) and how much is the fee? No, all the
cardshave 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
thereare transaction fees. Both of them have a minimum amount of $3.50 and the first one is 3.00% of
theamount of the transaction.

6. Is there a minimum finance charge on either of the major credit cards? If so, how much is it? Yesthere
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 statementplus $1.

7. Does the first major credit card charge a fee for late payments? If so, how much is it? Yes it does,
thefee 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
thecredit 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
noannual fees, the credit limit on the card is $500, and the annual percentage rate is low