Schumer Box

Front

What is the APR (interest rate) on this card for Purchases made during the first six months that a cardholder has this card?

Back

0%

Front

Jordan uses his credit card to get $40 in cash from an ATM instead of using his debit card. What is the impact of this decision?

Back

A $10 cash advance fee will be charged AND an A.P.R. of 25.24% will be applied on the $40 until it is paid back.

Front

Louisa carried an average balance of $1,000 on her credit card with an A.P.R. of 19.99% for the past year. How much interest would she have paid?

Back

She would have paid interest charges of $200.

Front

After the introductory period, all consumers who have this Platinum Card will...

Back

Qualify for an A.P.R. based on their creditworthiness

Front

Which transaction type has the highest A.P.R. based on credit card usage?

Back

A.P.R. triggered by a late payment

Front

Devon forgets to pay his credit card bill for three months. What happens to his A.P.R. (interest rate)?

Back

His A.P.R. (interest rate) will rise to 30.24% and stay there until he makes six consecutive minimum payments.

Front

Tamara's credit card balance after purchasing $200 of souvenirs in Italy, assuming a zero balance prior and no other purchases.

Back

$206.00

Front

Which action does NOT lead to the payment of a credit card fee? Options: Using your credit card to get cash from an ATM., Using your credit card to purchase items in a foreign country., Paying your credit card bill ten days after the Due Date., Paying your credit card bill in full and on time every month.

Back

Paying your credit card bill in full and on time every month.

Front

Josephine decided to get this Platinum card since she saw the ads touting the "0% A.P.R. Platinum. Sign Up Now." After reading this agreement, which statement is TRUE?

Back

Her A.P.R will change after six months and be between 15.24% to 23.24% assuming that she has been making on-time payments during those first six months.

Front

Which of the following statements is TRUE? Options: Assume that Josie has had this credit card for a year. The A.P.R. on her card will remain the same as long as she has the card., If Josie misses a payment during the Introductory Period, her late payment fee will be waived for this period since she is a new customer., Assume that Josie only uses her credit card to make purchases. She pays the balance on her credit card in full and on time every month. As a result, she pays no interest to the credit card company., Josie pays an annual fee to use this credit card.

Back

Assume that Josie only uses her credit card to make purchases. She pays the balance on her credit card in full and on time every month. As a result, she pays no interest to the credit card company.