How to Compare Credit Card Terms
To compare credit card terms, 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.
Card Name | ________ | ______ | _______ |
What are the APRs? | ________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
What type of interest does the card have? | ________ | ______ | _______ |
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________ | ______ | _______ |
How long is the grace period? | ________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
How is the finance charge calculated? | ________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
What are the fees? | ________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
What are the cash advance features? | ________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
How much is the credit limit? | ________ | ______ | _______ |
What kind of card is it? | ________ | ______ | _______ |
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________ | ______ | _______ |
Does the card offer other features? | ________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
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________ | ______ | _______ |
Source: FRB