credit card comparison online exercise for - Free Printable
Educational worksheet: credit card comparison online exercise for. Download and print for classroom or home learning activities.
JPG
1000×1291
113.4 KB
Free · Personal Use
Quality Assured by Worksheets Library Team
Reviewed for educational accuracy and age-appropriateness
ID: #1629076
⭐
Show Answer Key & Explanations
Step-by-step solution for: credit card comparison online exercise for
▼
Show Answer Key & Explanations
Step-by-step solution for: credit card comparison online exercise for
Let’s go through each question one by one using the chart.
---
1. Which credit card offers the best interest rate?
“Best interest rate” means the lowest APR (%), because that’s what you pay in interest if you carry a balance.
Looking at the APR column:
- Capital One: 16%
- American Express: 18%
- West Coast Credit Union: 11% ← lowest!
- Platinum Citibank: 19%
✔ So, West Coast Credit Union, Master Card has the best (lowest) interest rate.
---
2. Which credit card has the highest annual percentage rate?
This is asking for the highest APR (%).
From above:
- Highest is Platinum Citibank, Visa at 19%
✔ Answer: Platinum Citibank, Visa
---
3. What fee is the same for all the credit cards shown and how much is it?
Look across each fee column to see which one is identical for all four cards.
- Annual Fee: $75, $75, None, $95 → not same
- Late-Payment Fee: $35, $50, $30, $75 → not same
- Over-the-Limit Fee: $50, $45, $45, $50 → not same
- Foreign Transaction Fee: 3%, 3%, 2%, 0% → not same
- Cash Advance Fee: 3%, 3%, 3%, 3% → ✔ ALL are 3%!
✔ Answer: Cash Advance Fee — 3%
---
4. Which credit card has the highest annual fee?
Check the “Annual Fee” column:
- Capital One: $75
- American Express: $75
- West Coast: None ($0)
- Platinum Citibank: $95 ← highest!
✔ Answer: Platinum Citibank, Visa
---
5. Which credit card do you think is the worst card to obtain? Explain why.
We need to pick the one with the most expensive or unfair fees/rates.
Look at Platinum Citibank, Visa:
- Highest APR: 19%
- Highest Annual Fee: $95
- High Late Payment Fee: $75
- But… 0% foreign transaction fee (good), and 3% cash advance (same as others)
Compare to others:
- West Coast Credit Union has low APR (11%), no annual fee, low late fee — very good.
- Capital One and Amex are middle-of-the-road.
But Platinum Citibank has the highest cost overall if you carry a balance or miss payments.
Also, even though its foreign fee is 0%, that might not matter if you don’t travel. The high APR and annual fee hurt more people.
✔ Answer: Platinum Citibank, Visa — because it has the highest APR and highest annual fee, making it the most expensive if you use it regularly or carry a balance.
---
6. Which credit card do you think is the best card to obtain? Explain why.
Look for the card with the lowest costs overall.
West Coast Credit Union, Master Card:
- Lowest APR: 11% ← great for carrying balances
- No annual fee ← saves money every year
- Low late payment fee: $30
- Only downside: 2% foreign fee (but still better than some)
Others have higher APRs or annual fees.
Even if you never go abroad, this card saves you money on interest and yearly charges.
✔ Answer: West Coast Credit Union, Master Card — because it has the lowest interest rate, no annual fee, and reasonable other fees. It’s the cheapest option for most users.
---
Final Answer:
1. West Coast Credit Union, Master Card
2. Platinum Citibank, Visa
3. Cash Advance Fee — 3%
4. Platinum Citibank, Visa
5. Platinum Citibank, Visa — because it has the highest APR and highest annual fee, making it the most expensive overall.
6. West Coast Credit Union, Master Card — because it has the lowest APR, no annual fee, and low fees, making it the most affordable choice.
---
1. Which credit card offers the best interest rate?
“Best interest rate” means the lowest APR (%), because that’s what you pay in interest if you carry a balance.
Looking at the APR column:
- Capital One: 16%
- American Express: 18%
- West Coast Credit Union: 11% ← lowest!
- Platinum Citibank: 19%
✔ So, West Coast Credit Union, Master Card has the best (lowest) interest rate.
---
2. Which credit card has the highest annual percentage rate?
This is asking for the highest APR (%).
From above:
- Highest is Platinum Citibank, Visa at 19%
✔ Answer: Platinum Citibank, Visa
---
3. What fee is the same for all the credit cards shown and how much is it?
Look across each fee column to see which one is identical for all four cards.
- Annual Fee: $75, $75, None, $95 → not same
- Late-Payment Fee: $35, $50, $30, $75 → not same
- Over-the-Limit Fee: $50, $45, $45, $50 → not same
- Foreign Transaction Fee: 3%, 3%, 2%, 0% → not same
- Cash Advance Fee: 3%, 3%, 3%, 3% → ✔ ALL are 3%!
✔ Answer: Cash Advance Fee — 3%
---
4. Which credit card has the highest annual fee?
Check the “Annual Fee” column:
- Capital One: $75
- American Express: $75
- West Coast: None ($0)
- Platinum Citibank: $95 ← highest!
✔ Answer: Platinum Citibank, Visa
---
5. Which credit card do you think is the worst card to obtain? Explain why.
We need to pick the one with the most expensive or unfair fees/rates.
Look at Platinum Citibank, Visa:
- Highest APR: 19%
- Highest Annual Fee: $95
- High Late Payment Fee: $75
- But… 0% foreign transaction fee (good), and 3% cash advance (same as others)
Compare to others:
- West Coast Credit Union has low APR (11%), no annual fee, low late fee — very good.
- Capital One and Amex are middle-of-the-road.
But Platinum Citibank has the highest cost overall if you carry a balance or miss payments.
Also, even though its foreign fee is 0%, that might not matter if you don’t travel. The high APR and annual fee hurt more people.
✔ Answer: Platinum Citibank, Visa — because it has the highest APR and highest annual fee, making it the most expensive if you use it regularly or carry a balance.
---
6. Which credit card do you think is the best card to obtain? Explain why.
Look for the card with the lowest costs overall.
West Coast Credit Union, Master Card:
- Lowest APR: 11% ← great for carrying balances
- No annual fee ← saves money every year
- Low late payment fee: $30
- Only downside: 2% foreign fee (but still better than some)
Others have higher APRs or annual fees.
Even if you never go abroad, this card saves you money on interest and yearly charges.
✔ Answer: West Coast Credit Union, Master Card — because it has the lowest interest rate, no annual fee, and reasonable other fees. It’s the cheapest option for most users.
---
Final Answer:
1. West Coast Credit Union, Master Card
2. Platinum Citibank, Visa
3. Cash Advance Fee — 3%
4. Platinum Citibank, Visa
5. Platinum Citibank, Visa — because it has the highest APR and highest annual fee, making it the most expensive overall.
6. West Coast Credit Union, Master Card — because it has the lowest APR, no annual fee, and low fees, making it the most affordable choice.
Parent Tip: Review the logic above to help your child master the concept of credit card comparison worksheet.
