|
Credit
Card Comparison Checklist
Think about
how you will use your credit card. Do you expect to
- Pay your
montly bill in full?
- Carry over
a balance from month to month?
- Get cash
advances?
Once you
have decided how you will use your credit card, you can use this checklist
to compare cards. Information about most of the features
is given in the "Disclosure Box" that must appear in all printed credit
card solicitations and applications.
| Credit Card Comparison Checklist |
Card A |
Card B |
Card C
|
| What
are the APRs? |
|
|
|
For purchases?
|
|
|
|
For cash advances?
|
|
|
|
For balance transfers?
|
|
|
|
If you pay late?
|
|
|
|
| What
type of interest does the credit card
have? |
|
|
|
Fixed or variable? Tiered?
|
|
|
|
| How long is the grace period? |
|
|
|
If you carry over a balance?
|
|
|
|
If you pay off the balance each month?
|
|
|
|
For cash advances?
|
|
|
|
| How is the finance charge calculated? |
|
|
|
One cycle or two?
|
|
|
|
Including or excluding new purchases?
|
|
|
|
Average or adjusted?
|
|
|
|
Minimum finance charge?
|
|
|
|
| What are the fees? |
|
|
|
Annual
|
|
|
|
Late-payment
|
|
|
|
Over-the-credit-limit
|
|
|
|
Set-up
|
|
|
|
| What are the cash advance features? |
|
|
|
Transaction fees
|
|
|
|
Limits
|
|
|
|
| How much is the credit limit? |
|
|
|
| What
kind of credit card is it? |
|
|
|
Secured? Regular? Premium?
|
|
|
|
| Does
the credit card offer other features? |
|
|
|
Rebates
|
|
|
|
Frequent flier miles
|
|
|
|
Insurance
|
|
|
|
Other
|
|
|
|
Courtesy: http://www.federalreserve.gov |
