Fine Print: Schumer Box

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

• 0%

• 15.24%

• 23.24%

• 25.24%

Jordan uses his credit card to get $40 in cash from an ATM (cash advance). Based on this agreement, what is the impact of this decision?

• There is no impact

• A $10 cash advance fee will be charged ONLY.

• An A.P.R. of 25.24% will be applied on the $40 ONLY.

• A $10 cash advance fee & an A.P.R. of 25.24% will be applied on the $40

Louisa carried an average balance of $1,000 on her credit card over the past year. The A.P.R. on her credit card for the past year was 19.99%. Approximately how much interest would Louisa have paid over the course of the year?

• $2,000

• $20

• $100

• $200

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

• Pay the same A.P.R.

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

• Pay the Penalty A.P.R. of 30.24%

• Be charged an Annual Fee

There are different A.P.R.s applied based on how the credit card is used. Which transaction type has the highest A.P.R.?

• A.P.R. triggered by a late payment

• A.P.R. applied on purchases made during the Introductory Period

• A.P.R. applied to a Balance Transfer

• A.P.R. applied to a Cash Advance

When will a penalty APR be applied to your account?

• When you spend over your credit limit

• When you spend more than $100 in a single transaction

• When your payment is more than 60 days past the due date

• When you pay on time

All of the following actions lead to the payment of a credit card fee EXCEPT...

• Using your card for cash advances

• Using your card in a foreign country

• Paying your bill 10 days after the Due Date.

• Paying your bill in full and on time every month.

After reading this agreement, which of the following statements is TRUE after the 6 month introductory period?

• A.P.R will change to between 15.24% to 23.24%

• A.P.R. stays the same

• A.P.R. changes to 30.25%

• A.P.R. will go down

What is the amount of the fee you have to pay if you make a payment after the due date?

• 5% of your balance

• Up to $25

• Up to $35

• 3% of your balance or $40

What is the penalty APR?

• 30.24%

• 25.24%

• 23.24%

• 15.24%