Credit cards can be used wisely or unwisely

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Reference no: EM131998054

Credit cards can be used wisely or unwisely. Your personal habits can be a big part of this. Your understanding of the small print on your credit card contract is important. Review your credit cards statements. Also consider the information you have gained from business programs you have listened to on radio and television, and have read in business periodicals or viewed on the internet. Then submit your thoughts as you answer the following question.

Problem

Choosing between credit card. Wyatt Faust recently graduated from college and is evaluating two credit cards.

Card A: has an annual fee of $ 75.00 and an interest rate of 9%.

Card B: has no annual fee and an interest rate of 16%.

Assuming that Wyatt intends to carry no balance and pay off his charges in full each month, which card represents the better option? If Wyatt expected to carry a significant balance from one month to the next, which card would be better? Explain.

Reference no: EM131998054

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