shopping for credit Credit card costs and features can vary greatly. This exercise will give you a chance to shop for, and compare the costs and features of, three credit cards. directions Using the attached form, research the costs and features of Two major credit cards; and One credit card from a department store. When you're done, answer the following questions. what did you find? 1. Which credit card has the highest annual percentage rate and how much is it? 2. What method is used to calculate the monthly finance charge for the first major credit card? 3. When does the finance charge begin to accrue on the credit card from the local department store? 4. Do any of the cards have annual fees? If so, which one(s) and how much is the fee? 5. Is there a transaction fee on any card? If so, how much is it? 6. Is there a minimum finance charge on either of the major credit cards? If so, how much is it? 7. Does the first major credit card charge a fee for late payments? If so, how much is it? 8. What is the grace period on the credit card from the local department store? 9. Rafael wants to buy a new CD player that costs $450. According to his budget, he can afford payments up to $62.00 per month. Which of the three credit cards you've found would you recommend that Rafael use to purchase the CD player? TE shopping for credit Credit card costs and features can vary greatly. This exercise will give you a chance to shop for, and compare the costs and features of, three credit cards. directions Using the attached form, research the costs and features of Two major credit cards; and One credit card from a department store. When you're done, answer the following questions. what did you find? 1. Which credit card has the highest annual percentage rate and how much is it? 2. What method is used to calculate the monthly finance charge for the first major credit card? 3. When does the finance charge begin to accrue on the credit card from the local department store? 4. Do any of the cards have annual fees? If so, which one(s) and how much is the fee? 5. Is there a transaction fee on any card? If so, how much is it? 6. Is there a minimum finance charge on either of the major credit cards? If so, how much is it? 7. Does the first major credit card charge a fee for late payments? If so, how much is it? 8. What is the grace period on the credit card from the local department store? 9. Rafael wants to buy a new CD player that costs $450. According to his budget, he can afford payments up to $62.00 per month. Which of the three credit cards you've found would you recommend that Rafael use to purchase the CD player? TE