Consumer Credit EPF.13B ANALYZE CREDIT CARD FEATURES AND THEIR IMPACT ON PERSONAL FINANCIAL PLANNINGEPF.13E COMPARE TERMS AND CONDITIONS OF VARIOUS SOURCES OF CONSUMER CREDIT
EPF.13b analyze credit cardfeatures and their impact on personal financial planningCREDIT CARDS HAVE MANY POSSIBLE FEATURES. A DECISION MODEL CAN HELP SELECT THE APPROPRIATE CARD FOR THE CONSUMER.
What are some of the features of credit cards?Consumers should consider the impact on personal financial planning of credit card features, such as annual percentage rate (APR) annual fees compound interest penalty charges credit line promotional incentives account disclosure statement minimum payments.
How can a decision model be used to select a credit card? To use a decision model in selecting a credit card, the consumer needs to decide what features are most important in order to establish criteria.
What are the costs and benefits of credit cards?The benefits of using The costs of using creditcredit cards include cards include float (deferred payment) interest convenience fees (e.g., late, annual, over- capability to conduct the-limit) online transactions risk of identity theft rewards risk of borrowing beyond purchase protection the ability to repay fraud protection length of time to pay off payment over time the balance when paying only the minimum establishing credit. payment.
EPF.13e compare terms andconditions of various sources of consumer credit BORROWERS SHOULD COMPARE THE TERMS AND CONDITIONS OF VARIOUS SOURCES OF CONSUMER CREDIT.
What are the terms and condition s of various sources of consumer credit? Consumers should considerConsumers of credit costs and benefits ofshould compare various sources, including percentage rates retailers annual fees banks transaction fees credit unions finance companies finance charges risk-based lending risk of losing assets. companies (e.g., payday loan services, pawnbrokers, title loan services).