https://padlet.com/sydneysmith2398/7yzslnqb1k8t Sydney Smith, Emily Niehaus, Emily Gralak, Cailyn Rossiter en-us 2016-09-12 16:11:42 UTC 2024-12-09 16:42:39 UTC hello@padlet.com sydneysmith2398 https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123197265 Benefits to having a credit card include the ability to purchase things right now when you don't have the money, and it also works as an emergency fund when you have to pay a bill, and there is no money. 
Downsides include very high interest rates, and a sense of "free money" so over spending can occur. Credit cards can be very good in some situations where something is needed at that exact moment, but you don't have the funds to pay, but it can be a very dangerous method of payment because you will end up paying way more in the long run due to high interest rates. Credit cards should be used cautiously and sparingly. ]]> 2016-09-12 16:14:23 UTC https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123197265 sydneysmith2398 https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123207198 The PenFed Promise Visa Card is the best out of the three. Though its APR doesn’t start out the lowest of the three, it ends up the lowest. In addition to the APR, there isn’t an annual fee, like the other credit cards, or any late fee for that matter. Users of the credit card, if they spend $500 within the first 90 days will receive $100. Along with that benefit, the credit card owner will also have discounts from top retailers. Though no credit card is perfect, this is the best out of the three. ]]> 2016-09-12 16:34:04 UTC https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123207198 https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123208501 After examining each of the credit cards and their features, we noticed that the cards' deals were similar in many ways, yet had differences that could be critical over time. Right away, we noticed the difference in APR. While Barclaycard and PenFed had fixed rates for at least a year, and then varying rates between 5%--25% the USAA card used a varying rate from the beginning, ranging from 10.15%-- 20.15%. However, the PenFed card differs from the others when it comes to fees, having no annual, late, or over-the-limit fees. While PenFed also has no transaction fees, Barclaycard and USAA have at least Balance Transfer and Cash Advance Fees.
One of the few things that each credit card has in common is that none of them have grace periods. On top of that, the customer's balance is calculated by average daily balance through each company. Barclaycard and PenFed both offer cash bonuses as part of their reward system, while USAA focuses on retail and travel benefits. While PenFed offers special discounts from retailers as one of their features, it is the USAA card that stands out, offering the most benefits for military.

]]> 2016-09-12 16:37:20 UTC https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123208501 https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123211394 Barclaycard Cash Forward World Mastercard: $10.62
USAA Secured Card Visa Platinum: $7.20
PenFed Promise Visa Card: $7.26]]> 2016-09-12 16:45:03 UTC https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123211394 https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123632193 2016-09-13 23:14:35 UTC https://padlet.com/sydneysmith2398/7yzslnqb1k8t/wish/123632193