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excelon creditcards

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					                                              Credit Card verses Debit Cards
Credit Card                    Debit Card
Credit Limit                   What you deposited in your
                    $   600.00 account.                    $ 600.00
Monthly Service                Monthly Checking account
Charges             $    35.00 charge                      $     5.00
Monthly financial
charges - 20%
interest on $600    $    24.00 No monthly interest charges   $      -
Balance             $   659.00                               $   595.00

Now your turn:
Credit Limit                   What you deposited in your
                    $ 1,500.00 account.                      $ 2,500.00
Monthly Service                Month Checking account
Charges             $    45.00 charge                        $     5.00
Monthly financial
charges - 20%
interest on $575               No monthly interest charges   $      -
Balance                        Balance

Credit Limit                   What you deposited in your
                    $   750.00 account.                      $ 2,200.00
Monthly Service                Month Checking account
Charges             $    55.00 charge                        $     5.00
Monthly financial
charges - 20%
interest on $890               No monthly interest charges   $      -
Over the limit
charge              $    39.00 Balance
Balance



Credit Limit                   What you deposited in your
                    $ 8,000.00 account.                      $ 8,600.00
Monthly Service                Month Checking account
Charges             $ 125.00 charge                          $     5.00
Monthly financial
charges - 20%
interest on $8500              No monthly interest charges   $      -
Over the limit
charge              $    87.00 Balance
Balance
                                                             What is?
Annual Percentage
Rate (APR)

Grace period

Annual fee
Transaction fee

Balancing
computation
method for finance
charge

Credit limit

				
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