Minimum, two page essay on the true costs of bank credit card
use citing three credible sources. Student will identify and calculate costs of
fees, such as, annual fee, finance/interest fee, late payment fee, cash advance
fee, over the limit fee, returned payment fee, card replacement fee, and
others. Student to translate those costs to a cumulative annualized interest
rate for each fee, assuming a first month with purchases of $1,000, cash
advance of $200 and no monthly payment made. These calculations for each fee
shoud appear on an attached Excel exhibit (not counted in the two page
minimum).
Student
to also explore potential fee bias, if any, associated with gender, race,
nationality and or socioeconomic status. Students to discuss their
understanding of these costs and potential biases in Class 9.
The
essay must include proper citations from 3 credible sources.
Use this Credit card as an example Credit card: https://www.usbank.com/credit-cards/altitude-go-visa-signature-credit-card.html?ecid=PS_28829&ds_e=GOOGLE&ds_c=GO_US+Bank+General+CC_Brand_Prospect_ALL_ALL_NAT_OA&ds_a=GO_US+Bank+General+CC_Brand_Prospect_ALL_ALL_NAT&ds_k=us+bank+credit+card&ds_kids=p41569771527&c3apidt=RPS-p41569771527&gclid=CjwKCAjwyvaJBhBpEiwA8d38vDi-XQ-xB8oHxvXJ2bVDkTIROt_wx7F_G9wKUixcVxlSL1O_dIwAtRoCreEQAvD_BwE&gclsrc=aw.ds
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