A Checklist For Card Holders

To help compare and evaluate your existing credit cards, as well as card offers, you may wish to set up a checklist.
A checklist includes the basic and essential features of a credit card discussed in this educator.
You may wish to expand the checklist to evaluate introductory offers and rewards cards.
Although the checklist may contain other features, it should include, at a minimum, the following information:

Feature
Example AExample BYour Card
Regular interest
rate:
14.50%17.50%
Index
rate
:
PrimePrime
Interest rate spread:4.00%9.00%
Cash-advance
charges
:
21.00%21.00%
Over-the-limit
charges
:
21.00% 21.00%
Annual
fee
:
$35$30
Grace period
(days):
2525
Teaser
rate
:
YesNo
On new
purchases:
3.90%--
On transfer
balances
:
3.90%--
Introductory
period:
6 months--
Regular rate on
transfer balances:
16.50%17.50%
Rewards
card
:
NoFrequent-flier
Reward
earned:
--Miles
How reward
is earned:
--1 mile/$1
purchases
Reward on
transfer balances:
--500 miles
each $1,000
Bonus offer:--1,000 miles
first 3 years
How many needed
for reward:
--25,000 miles
Reward
description:
--Round-trip
ticket (domestic)
The above information is educational and should not be interpreted as financial advice. For advice that is specific to your circumstances, you should consult a financial or tax adviser.
2008-06-09 15:24:20
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