If you must close a credit card, never close which of the following? A department store card A new card An old card An online card such as Amazon
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Step 1: Closing a credit card can negatively impact your credit score. Show more…
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Savannah has heard that opening a lot of credit card accounts is a good way to build credit. She currently has five credit cards but is sometimes forgetful in paying her bills on time and usually has a balance on each card. Her favorite store is offering a P500 coupon on her next purchase, with the promise of more coupons in the future if she opens a credit card. She decides to open the store credit card to get the discounts.
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Credit card A offers an introductory APR of 3.4% for the first 3 months and a standard apr of 15.7% thereafter, while credit card B offers an introductory apr of 4.2% for the first 3 months and a standard apr of 15.5% thereafter. All else being equal which of these statements is correct?
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What should a consumer consider when shopping for a credit card? Check all that apply. 1) the down payment that is required 2) the initial fees to open the account 3) the fees charged for late payments 4) the kind of collateral that is required 5) the annual percentage rate for the card
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